If you’re a first-time home buyer and have been sitting on the sidelines waiting for the right moment, 2026 could be a good opportunity for you!

Let me share a few numbers that tell the story. The latest available data from the Calgary Real Estate Board (CREB®) reported 1,234 total sales in January, a year-over-year decline of 15 per cent. Inventory climbed to 4,391 total units, up 20.6 per cent year-over-year, and months of supply now sits at 3.56, a 41.6 per cent increase over the same time last year. In plain terms, there are more homes available, fewer buyers competing for them, and more room to negotiate a better price.

Calgary’s total residential benchmark price came in at $554,000 in January, down 4.7 per cent year-over-year. While each market segment has performed differently, the broader trend is clear: conditions are softening, and first-time buyers could benefit by getting a better price. Here are a few tips on how to make the most of it.

Get pre-approved before you start looking

This is non-negotiable. Getting pre-approved for a mortgage tells you exactly what you can afford, locks in your rate for a set period, and signals to sellers that you’re a serious and qualified buyer. In a market with more inventory and greater room to negotiate, sellers pay close attention to which offers carry the least risk.

Take your time, but remain decisive

More choice on the market does not mean you have unlimited time. Well-priced, well-located properties will still move relatively quickly. Make sure to do your due diligence – review comparable sales, book proper inspections, and understand the neighbourhood– but when you find the right home at the right price, be prepared to act.

Explore multi-family options

The steepest sales and benchmark price declines in January occurred in condos and townhomes, suggesting this segment offers more opportunity. For first-time buyers, a well-located multi-family property can be an excellent entry point into the market, helping you build equity while keeping your monthly costs manageable.

Work with a REALTOR® who knows the data

A balanced market rewards informed decision-making. Your Realtor of choice should be able to walk you through the specific details of price trends by community and elaborate on their negotiation strategy for the property you want. The difference between getting a decent deal or an excellent deal often comes down to the quality of advice behind it.

Do not try to time the bottom

Several factors are contributing to today’s softer conditions, but markets are cyclical. Trying to time the market bottom comes with its challenges. I always suggest buying within your means and letting time do the rest.

Calgary is an amazing place to live, and it remains one of the most liveable major cities in Canada. The conditions are here. The inventory is here. The opportunity is here. The choice is yours!

Wishing you all the best. Happy house hunting!