Last month, Calgary’s market continued to move from the strong seller’s market conditions of the spring, the Calgary Real Estate Board (CREB) reports. More inventory and fewer sales brought months of supply to more than two months, a level unseen since 2022.

“As expected, rising new home construction and gains in new listings are starting to support a better-supplied housing market,” says Ann-Marie Lurie, chief economist at CREB. “This trend is expected to continue throughout the remainder of the year, but it’s important to note that supply levels remain low, especially for lower-priced properties. It will take time for supply levels to return to those that support more balanced conditions.”

More inventory driven by higher-priced properties; fewer sales thanks to lower-priced properties

Last month’s inventory reached 4,487 units, 37.3 per cent higher than the year prior but almost 25 per cent lower than long-term trends for August.

Higher-priced properties mostly drove these gains, with more new listings and less sales, at 2,186 — 19.5 per cent less than 2023’s record high yet 17 per cent higher than long-term averages for August. Sales declines were for homes priced below $600,000.

August’s unadjusted residential benchmark price was $601,800, 6.3 per cent higher than last year and slightly lower than last month. The average benchmark price rose by 9.0 per cent year-to-date.

Detached homes

Compared to a year ago, detached home sales fell by 14 per cent. August saw 2,011 detached homes in inventory, with over 85 per cent priced above $600,000, helping push the months of supply up to nearly two months.

August’s unadjusted detached benchmark price was $762,600, just under last month but over 9.0 per cent higher than last year.

Semi-detached homes

For semi-detached properties, the region saw 297 new listings and 172 sales, with a sales-to-new-listings ratio drop to 58 per cent that supported increased inventory and a months of supply jump to nearly two months.

This category’s August unadjusted benchmark price was $681,200, a drop from July but almost 10 per cent higher than last year.

Row homes

Last month, new listings for row homes priced above $400,000 added to year-to-date growth of about 16 per cent, while slower sales over the past quarter also boosted inventory gains. There were 660 row home units available, a 75 per cent increase over particularly low levels reported last year.

This category’s unadjusted benchmark price in August was $461,700, slightly lower than last month but over 12 per cent higher than the year prior.

Apartment condominium homes

August’s new listings of apartment condominium homes reached 1,001, a record high for the month. This was paired with declining sales, which caused the sales-to-new-listings ratio to fall to 60 per cent and inventories to rise to 1,476 units, with months of supply to rise to about two and a half months.

The month’s unadjusted benchmark price was $346,500, similar to July’s and almost 16 per cent higher than 2023’s prices.

Review CREB’s full reports for the city and region.

Now that the busy spring market is behind us, Calgary is beginning to see some shifts in supply levels, the Calgary Real Estate Board (CREB) reports.

July recorded 2,380 sales and 3,604 new listings, resulting in a sales-to-new listings ratio of 66 per cent, which has supported an inventory increase of up to 4,158 units. While this is still 33 per cent below the typical July average, it’s the first time surpassing 4,000 units in almost two years. Most of the supply growth occurred for homes priced above $600,000 and has helped to ease the spring’s extreme seller’s market conditions.

“While we are still dealing with supply challenges, especially for lower-priced homes, more options in both the new home and resale market have helped take some of the upward pressure off home prices this month,” notes Ann-Marie Lurie, chief economist at CREB. “This is in line with our expectations for the second half of the year, and should inventories continue to rise, we should start to see more balanced conditions and stability in home prices.”

Higher supply: Still favouring sellers but lowering prices

July sales were 10 per cent less than last year’s record high but remained higher than long-term monthly trends. Despite this, the increase in inventory combined with slower sales caused the months of supply to rise to 1.8 months, still favouring sellers but much improved from the under one month earlier this year.

This extra supply helped slow price growth for all property types. July’s total residential benchmark price was $606,700, close to June’s price and almost 8.0 per cent higher than 2023’s levels.

Detached homes

Detached home sales in July fell by 8.0 per cent, as a 15 per cent rise in homes priced above $600,000 was not enough to offset a 50 per cent decline in lower-priced homes. Year-to-date detached sales have eased by just over 1.0 per cent compared to last year.

The city saw 1,098 sales and 1,721 new listings this month, with inventories reaching 1,950 units, which helped push the months of supply up to nearly two months. The unadjusted benchmark price in July was $767,800, similar to last month but 11 per cent higher than last July.

Semi-detached homes

Although semi-detached home sales slowed slightly compared to last year, year-to-date sales reached 1,518 units, 6.0 per cent higher than in 2023. However, conditions remain tight with a 76 per cent sales-to-new listings ratio and 1.5 months of supply.

The pace of monthly price growth has slowed, but the unadjusted benchmark price of $687,900 is nearly 12 per cent higher than last year.

Row homes

More new row home listings compared to total lower sales caused the sales-to-new listings ratio to fall to 73 per cent in July, raising the months of supply to 1.3 months.

Although conditions still favour sellers, the change stopped further monthly price gains, though the benchmark price of $464,200 is still nearly 15 per cent higher than 2023.

Apartment condominium homes

July sales decreased to 659 units, with a large drop in sales for properties priced under $300,000. There were 1,043 new listings last month, causing the sales-to-new listings ratio to drop to 63 per cent which helped raise months of supply to over two months.

Monthly price growth has slowed, but the unadjusted benchmark price of $346,300 is still 17 per cent more than levels from the same time last year.

Review CREB’s full reports for the city and region.

Last week, the Calgary Real Estate Board (CREB) released its Q2 2024 housing market report, which offers an overview of the real estate landscape in Calgary and surrounding areas and showcases trends in sales and pricing.

A seller’s market with sales-to-new listings below 80% for first time since Q1 2023

New listings have risen for the fourth consecutive quarter compared to last year, with many gains in the upper price ranges of each property type — rising prices and high lending rates have encouraged more sellers to list their properties. This increase caused the sales-to-new listings ratio to fall below 80 per cent for the first time since Q1 2023.

However, the market continues to favour sellers with a Q2 sales-to-new-listings ratio of 75 per cent and a months-of-supply of one month.

Slower sales thanks to lower-priced properties, though still above trends

In the second quarter, sales slowed by three per cent compared to the same time last year. This was mainly due to lower-priced properties with the lowest supply levels. Despite this, sales levels were 29 per cent above long-term trends and, after the year’s first half, nearly six per cent higher than last year.

“The unexpected surge in migration over the past two years has contributed to the demand growth and supply challenges experienced in the Calgary market,” says Ann-Marie Lurie, chief economist at CREB.

“While we still have to work through the pent-up demand, slowing migration levels and supply gains in the resale and new home markets should start to support more balanced conditions, taking some of the pressure off home prices.”

 Source: CREB

Home prices have risen by 10 per cent so far this year — with the biggest gain occurring in row properties at 19 per cent and the smallest growth occurring in detached and semi-detached homes at 13 per cent.

What’s next

CREB predicts that increased supply from the new home sector will help support a better-supplied market, including for rentals, and reduce pressure on home prices.

Slowed price growth is expected throughout the year’s second half as supply increases, though this will mostly impact higher-priced properties. The board says more price increases will affect the most affordable property types with persistently tight conditions.

Review the full report here.

Last month, Calgary had 2,738 residential sales, 13 per cent less than last year’s record high, the Calgary Real Estate Board (CREB) reports. However, this is over 17 per cent more than long-term trends.

“The pullback in sales reflects supply challenges in the lower price ranges, ultimately limiting sales activity,” says Ann-Marie Lurie, chief economist at CREB. “Inventory in the lower price ranges of each property type continues to fall, providing limited choices for potential purchasers looking for more affordable product. It also continues to be a competitive market for some buyers with over 40 per cent of the homes sold selling over list price.”

Inventory and prices

New listings were also lower in June, which left the sales-to-new-listings ratio at 72 per cent. At 3,789 units, inventory was improved compared to last year, but this is 40 per cent below long-term trends.

Months of supply is relatively higher, at 1.4 months, with rising prices in all districts and conditions favouring sellers. June’s unadjusted benchmark price was $608,000, almost nine per cent higher than last year.

Source: CREB

Detached homes

There was a 16 per cent year-over-year sales drop in detached homes across the city, with new listings 45 per cent below long-term trends for June and 1,775 detached homes in inventory. At $767,600, the unadjusted benchmark price was almost one per cent higher than in May and 12 per cent higher than the year prior.

Semi-detached homes

New listings were low in this property type last month, with the sales-to-new-listings ratio up to 76 per cent for semi-detached homes. With just over one month of supply, inventory remained at about half of what’s typical in June. The unadjusted benchmark price rose one per cent from last month and 12 per cent from last year, reaching $686,100

Row homes

Row home sales slowed in June relative to the past two years, and this property type’s sales-to-new-listings ratio fell to 75 per cent, the lowest June level since 2021. With about one month of supply and an unadjusted benchmark price of $464,600, about 17 per cent higher than last year, conditions are tight.

Apartment condominium homes

791 apartment condominium home sales occurred in June, nearly eight per cent less than last year. This was mainly for lower-priced properties. However, year-to-date apartment sales are up by 13 per cent and at record-high levels. Sales-to-new-listings fell and inventory was up, but mainly in higher-priced properties. Prices increased by over 17 per cent from last year, reaching $344,700. 

Where buyers are going for more affordable homes

Calgary’s market has been going strong, including from a huge amount of interprovincial migration to Alberta last year. That said, it remains relatively affordable compared to other major Canadian markets, and there are several areas in the city where buyers can get a single-family home for $500,000 or less, a recent report from Wahi reveals. This was found in 40 neighbourhoods between January and May this year.

The southwest part of the city is home to the 10 most affordable of the neighbourhoods with two in Northwest Calgary and a third in Northeast Calgary.

Source: Wahi

Bidding wars for Calgary’s single-family homes under $500,000

Despite the relatively lower home prices in some areas, about 65 per cent of the city’s neighbourhoods where the median price of a single-family home was below $500,000 were in overbidding territory through the first five months of the year.

Southwest’s Cedarbrae was leading in this, with selling prices about nine per cent above asking. The neighbourhood with the lowest single-family home median price ($295,000), Woodlands in the southwest, saw overbidding by five per cent.

The city’s higher-priced neighbourhoods and properties are also being overbid, as nearly half of Calgary’s neighbourhoods were in overbidding territory from January to April.

Review CREB’s full reports for the city and region.

Applications for the Calgary Real Estate Board (CREB) Realtor Community Foundation’s Community and Transformation grants, which support local housing and shelter initiatives, are open until June 28.

$150,000 in Community and Transformation grants to support community housing

Community grants fund major repairs or renovations to existing community housing or shelter supply. This year, $105,000 in total Community grants will be awarded.

Transformation grants fund minor renovations to existing infrastructure that will improve housing quality. This year, $45,000 in total Transformation grants will be awarded.

“Everyone deserves the safety and security of a home,” says Catherine Chow, chair of CREB Realtor Community Foundation. “Through our Community and Transformation grants, realtors are committed to supporting Calgarians by keeping them housed and improving housing quality through renovation and repair.

All eligible organizations are strongly encouraged to apply for these grants for extra support on their projects. We look forward to learning more about all the amazing, hard work being done in the community.”

$350,000 in Legacy grant funding to RMHC this year

The Foundation will also award $350,000 in Legacy grant funding to Ronald McDonald House Charities (RMHC) this year, making it the third installment of a three-year $1 million funding agreement to support an expansion project that will more than double the number of families RMHC can support.

“The positive impact we’re making year after year is just amazing,” says Jason Yule, CREB’s director of communications and governance.

“CREB realtors are deeply invested in making a difference in the area of housing and shelter, which is why this year we’re offering $500,000 in grant funding to support local non-profit organizations to create new housing options and sustain the quality of existing housing for those who need it most.”

Last month, Calgary’s resale market continued on its path of resilience with 3,092 home sales, largely thanks to declines in lower-priced semi-detached and detached properties. Although this is almost one per cent below last year’s record high, it’s also 34 per cent higher than long-term trends, the Calgary Real Estate Board (CREB) reports.

“Although new listings have increased, much of this growth is in higher price ranges for each property type,” says Ann-Marie Lurie, chief economist at CREB.

“Our strong economic situation has supported sales growth in these higher price ranges. However, this month’s sales could not offset the declines in the lower price ranges due to a lack of supply choice.”

Seller’s market with low inventory continues

New listings in May reached 4,333 units, about 19 per cent higher than last year. Although the sales-to-new listings ratio dropped to 71 per cent, inventory stayed at nearly half of what’s typically seen in May and conditions continue to favour sellers.

Detached homes

Year-over-year sales of detached homes declined by seven per cent, and supply sat at just over one month. May’s unadjusted benchmark price reached $761,800, over one per cent higher than last month and 13 per cent higher than last year. 

Semi-detached homes

Detached home sales rose by almost 11 per cent year-to-date, and like other property types, one month of supply meant seller-favoured conditions. The benchmark price of semi-detached homes reached $678,000 in May, over one per cent higher than last month and 13 per cent higher than last May. 

Row homes

May had 540 sales of row homes and supply of under one month. The benchmark price of row homes reached $462,500, nearly two per cent higher than last month and over 19 per cent higher than last year.

Apartment condominium homes

Apartment condominium home sales continued to rise, reaching a year-to-date 19 per cent gain and just over one month’s supply. Prices continued to increase compared to last month’s and last year’s levels, exceeding 13 to 30 per cent across different districts.

Review Calgary’s city and regional May updates, including area summaries.

Calgary residential sales last month rose by seven per cent (to 2,881 units) compared to last year, the Calgary Real Estate Board (CREB) reports. Although growth pace has slowed from earlier this year, sales are still  37 per cent higher than long-term trends for April.

The city saw 11 per cent more new listings (3,491) than last year which helped stabilize inventory and represented a three per cent increase over long-term trends. This is still half of what April normally gets and 16 per cent less than last year.

“While supply levels are still declining, much of the decline has been driven by lower-priced homes,” says Ann-Marie Lurie, chief economist at CREB. “Homes priced below $500,000 have reported a 29 per cent decline. Meanwhile, we are seeing supply growth in homes priced above $700,000. Persistently high interest rates are driving demand toward more affordable products in the market and, at the same time, driving listing growth for higher-priced properties.”

Seller-favoured conditions persist

The month’s sales-to-new-listings ratio was 83 per cent and months of supply was less than one month, showing continued conditions that favour sellers and further drive price growth.

April’s unadjusted residential benchmark price reached $603,700, a one per cent increase from March and almost 10 per cent over last year’s levels. There were price increases throughout the city, particularly in the more affordable areas, and across all property types. 

Detached homes

April witnessed a one per cent increase in detached home sales compared to the previous year. While there was a surge in sales for higher-priced properties, those below $600,000 experienced a sharp decline due to limited listings.

The unadjusted benchmark price in April rose to $749,000, up over one per cent from the previous month and 13 per cent higher than April 2023. Notably, the most affordable districts witnessed the highest year-over-year gains.

Semi-detached homes

Sales of semi-detached homes continued to climb in April, contributing to overall year-to-date sales growth of almost 18 per cent. This increase was partly attributed to gains in new listings, although it did little to alleviate low inventory, with the months of supply staying below one month for the second consecutive month.

The persistent tight market conditions led to further price appreciation, with the unadjusted benchmark price reaching $668,400 in April, nearly two per cent higher than the previous month and 13 per cent higher than last year.

Row homes

April saw continued improvement in row home sales, contributing to a year-to-date gain of 19 per cent. Despite a 16 per cent increase in new listings, low inventory persisted because of high sales activity, maintaining the months of inventory below one month for the fourth consecutive month.

The tight market conditions, particularly in the lower price ranges, drove further price appreciation for row homes. The unadjusted benchmark price in April reached $458,100, up two per cent from the previous month and 20 per cent from last year.

Apartment condominiums

Sales of apartment condominiums reached 822 units in April, contributing to a year-to-date increase of 24 per cent. This property type now represents nearly 30 per cent of all resale activity, thanks in part to a rise in new listings. However, inventory levels remain significantly lower than last year, driving further price growth.

The unadjusted benchmark price for apartment condominiums in April rose to $346,200, a gain of over two per cent from the previous month and nearly 18 per cent higher than last April.

Review Calgary’s city and regional April updates, including area summaries.

Alberta is calling not just residents, but real estate agents, too.

As Canadians continue to flock to the province in search of better value in the real estate market, so too have agents looking to profit off of the increased interest. The surge of not only residents but also licensed professionals is a mixed bag according to some local agents on the ground.

Dramatic rise in applications for Alberta licensing

“There’s an unbelievable amount of people currently in the system looking to get their license in Alberta,” says Brad McCallum, realtor and owner of the McCallum Group, which is with Real Broker and based in Calgary. “Five or six months ago, it was anywhere from 3,500 to 4,500 people, or maybe even a higher number, enrolled in some part of their process to get licensed in Alberta.” 

A rush of new agents is joined by those who are interested in transferring. From January 2018 to December 2020, the Real Estate Council of Alberta (RECA) received 399 mobility applications from agents, already licensed in one province, looking to get a license in Alberta. That number rose dramatically from January 2021 to February of this year, with 1,385 applications across both real estate and mortgage. The majority came from British Columbia and Ontario.

Calgary: A competitive market for both buyers and agents

“Being a brand new agent in this market is probably tough,” says McCallum. “There’s very low inventory in the city and only so many transactions. This year was a slightly slower start, but our team of five is catching up now. There are lots of deals going on conditionally. It’s atypical business.”

Alberta in general is trending alongside the rest of the country, with a 2024 buying season well underway, where inventory is minimal, sales are brisk and bidding wars continue to pop up on occasion. Calgary in particular remains a competitive market, drawing interest from those in Vancouver and Toronto especially. 

According to the Calgary Real Estate Board, compared to the year before, February saw sales increase (22.8 per cent) and the benchmark price increase (10.3 per cent). In the same period, average days on market decreased (26.8 per cent) and inventory decreased (14.2 per cent). It adds up to a competitive market not just for buyers, but for agents as well.

A ‘capitalistic’ strategy ‘based on a scarcity mindset’

John Carter, broker/owner of Re/Max River City in Edmonton, is wary of agents who are working in Alberta without physically being there. He sees it as selfish, with these out-of-towners looking to profit from an interest in the province without doing the hard work on the ground.

“It’s very capitalistic,” says Carter. “It’s not about serving clients. It’s based on a scarcity mindset.” He says the vast majority are “with some brokerage no one has ever heard of” and have a 647 or 416 area code. 

“They’re writing an offer sight unseen,” and, in his opinion, “There’s a lot of negligence … They’re not practicing to their realtor’s code in Alberta, and not cooperating well with realtor colleagues.”

Carter supports the idea of mobility among provinces: he was licensed in Ontario from 2011 to 2014 and has been licensed in Alberta since 2002. However, he wonders if the process is too simple and can be taken advantage of. 

“That’s failing right now,” he continues. “I like the idea of mobility, but we’re finding I would say less than 20 per cent of agents in my firsthand experience are relocating.” According to Carter, “The vast number of professionals feel the barrier of entry to be too simple, too easy.” As a result, he says, “There are too many that aren’t following the rules.” 

Carter references examples of agents from out of town without access to the local board who call the listing agent, as well as others who don’t want to refer clients so they don’t give up a commission. While he doesn’t necessarily think all of these actions are predatory, sometimes it’s a lack of knowledge about rules and competency on the part of the agent.

Some try to skirt RECA’s rules but ‘the low road isn’t going to raise your business’

Arthur Chan, real estate broker at Re/Max Hallmark Toronto, is among those who recently got licensed in Alberta. When asked about the main reason for doing so, he says, “To sell, promote pre-construction projects in Calgary. “I wanted to offer my clients and investors an entry-level price of homeownership that’s more affordable vs Toronto. I’ve relocated over six families in the past eight months.” 

Chan, who’s been an associate at Re/Max Central in Calgary for about 18 months, says he uses Zoom, Google Maps and other software to assist clients remotely, but he also makes sure to get on the ground. 

“As for my clients wanting to buy resale, I fly down with them and conduct showings in person. They can get a better sense and feel of the neighbourhood and dwelling before making the purchase, and that type of feeling can only be evoked in person.”

Chan does note there are those trying to skirt the rules. “Some agents have been channeling (hiding) through builder’s referral agreements. However, that’s circumventing RECA’s strict policy and a major violation.”

McCallum acknowledges that there may be some bad actors but that their way of doing business simply won’t succeed. “There’s always going to be those realtors in the marketplace, but the low road isn’t going to raise your business. Consumers are pretty smart and people are doing a lot of research.”

Being on the ground: A huge advantage

His group is particularly active on social media and YouTube and credits some of its success to attracting those from out of province to come to Calgary.  While McCallum has been in Calgary for many years, he’s happy to serve residents as well as those looking to move there. An increase in remote work and shifting social priorities make Calgary attractive to many in B.C. and Ontario, contributing to his success. “I’ve only got a business because the world is willing to change,” he points out.

Part of the reason the McCallum Group is doing well is that they’re on the ground, which is a huge advantage compared to agents working remotely. “If you’re not there, if you don’t have someone on the team in the marketplace, someone to turn off the lights, lock the door, be present for a showing, there are definitely challenges.”

In such a tight market, Carter sees the lack of presence as negligence, putting the client at a disadvantage and susceptible to overpaying more or losing out on bids entirely simply because they could be alone with a listing agent there to support the seller, not the potential buyer. “How can you do comparables, pricing and strategy?”

In addition to providing the best service to clients by being physically in Alberta, there’s another reason Chan doesn’t mind flying out to Calgary. “I find it’s more laid back,” he says. “No one seems to be in a major hurry.”

The Calgary Real Estate Board (CREB) reports that March sales rose to 2,664 units, a 10 per cent year-over-year gain.

The 3,172 new listings were an improvement from February, but still below what’s typically seen in March and not enough to help change the supply situation.

March’s sales-to-new listings ratio rose to 84 per cent, and the months of supply fell below one month. 

“We have not seen March conditions this tight since 2006, which is also the last time we reported high levels of interprovincial migration and a months-of-supply below one month,” says Ann-Marie Lurie, CREB’s chief economist.

“Moreover, we are entering the third consecutive year of a market favouring the seller as the two-year spike in migration has driven up demand and contributed to the drop in resale and rental supply. Given supply adjustments take time, it is not a surprise that we continue to see upward pressure on home prices.” 

Lower inventory, higher prices

Inventory levels have declined across properties priced below $1,000,000, with the largest drops being for homes priced below $500,000. Last month, there were 2,532 units in inventory, 22 per cent lower than last year and half the levels normally seen in March.

Last month’s total residential benchmark price rose to $597,600, two per cent higher than last month and almost 11 per cent higher than last year. Prices have increased across all property types, particularly for row and apartment-style homes.

Detached homes

There were 1,386 new listings of detached homes. Compared to 1,151 sales, this caused the sales-to-new listings ratio to rise to 83 per cent. Inventories were 24 per cent lower than last year’s levels and nearly 60 per cent lower than long-term trends for March. 71 per cent of March’s available inventory was priced above $700,000.

The detached benchmark price rose to $739,700, a monthly gain of nearly three per cent and a year-over-year gain of 14 per cent.

Semi-detached homes

There were 260 new listings and 250 sales of semi-detached homes, causing the sale-to-new listings ratio to rise to 96 per cent. Inventory declines have been driven mostly by properties below $600,000.

The benchmark price hit $658,000, nearly three per cent higher than last month and a 14 per cent gain over last March

Row homes

There were 536 new listings and 449 sales of row homes, with the sales-to-new listings ratio rising to 84 per cent and preventing significant monthly change in inventory. Inventory levels were 12 per cent below last year’s and 53 per cent below long-term trends for March, mostly driven by properties priced below $400,000.

The benchmark price went up to $448,700, a monthly gain of nearly three per cent and over 20 per cent higher than levels reported at this time last year.

Apartment condominium homes

March apartment condominium sales reached 814 units, contributing to the first quarter’s record-high sales of 1,940 units. The month’s sales-to-new-listings ratio of 82 per cent and one month of months-of-supply created favourable conditions for sellers.

The benchmark prices reached $337,700, over two per cent higher than last month and 17 per cent higher than levels reported last March.

Review Calgary’s city and regional March updates, including area summaries.

The Calgary Real Estate Board (CREB) recently announced the appointment of executive and community leader, Marco De Iaco, to its board of directors. De laco is the first public director to join CREB.

“We are thrilled to welcome Marco to our Board of Directors. His extensive experience and unwavering commitment to community empowerment make him a valuable addition to our board,” says Christian Twomey, CREB chair. “Marco’s unique perspective and proven leadership will greatly benefit CREB and its members.”

“He will contribute significantly to the growth and success of CREB”

The Board Development and Leadership Standing Committee (BDLSC) carefully considered several candidates and was “very impressed with the calibre of the finalists … The committee recognizes (De laco’s) outstanding achievements and believes he will contribute significantly to the growth and success of CREB,” Twomey mentions.

De laco’s background

Marco brings a wealth of experience and expertise from his career in various industries, in roles leading him to drive transformative initiatives conceptualize and execute strategies that drive value, revenue and reputational impacts, and foster community engagement.

These included as the former executive director of the Calgary Downtown Association and the vice president of sport, culture, and major events at Tourism Calgary.

He graduated from the Haskayne School of Business at the University of Calgary and the Executive Program at Queen’s Smith School of Business.

“Together, we will navigate opportunities and challenges, driving innovation and excellence”

De laco expressed his commitment to creating positive outcomes for CREB and its membership: “Joining CREB’s board of directors is both an honour and a privilege, and I am excited to contribute my expertise to further the organization’s mission of serving its members and advancing the real estate industry in Calgary. Together, we will navigate opportunities and challenges, driving innovation and excellence in Calgary’s real estate landscape.”

Photo source: LinkedIn.com