27 | We’re Back ☕️ And There’s A LOT To Catch Up On

After taking August off, Annie & Paula are back behind the microphones — and the timing couldn’t be better.The Calgary real estate market is heading into its traditional fall season, while the Canadian economy is navigating tariffs, inflation, interest rates and a whole lot of uncertainty.So… what actually matters?🏡 The August real estate marketShowing activity softened 5% week-over-week for the second consecutive week — but with summer winding down, vacations ending and Labour Day landing when it did, that isn’t necessarily a red flag.More importantly, sales increased another 7% week-over-week, marking three consecutive weeks of improving sales.We break down why showings and sales don't always move together at the same time, and why September may give us a much better read on where the market is actually heading.📊 There isn't one Calgary marketBuyer activity continues to look different depending on price point.We talk about where showing activity is strengthening, where it's softening and why the headline “Calgary's market is up/down” doesn't tell the whole story.🏠 The September inventory questionNew listings declined another 2% week-over-week, marking three consecutive weeks of declining new-listing volume.But September could bring sellers back into the market.The big question we're watching:Do buyers come back faster than new inventory?💰 The Bank of CanadaThe Bank held its overnight rate at 2.25% on September 2.With inflation still around 3%, slower growth and increased uncertainty from tariffs, we talk about why the Bank is in a tricky position — and why rate stability matters for buyers and homeowners.🇨🇦 Canada's counter-tariffs are now in effectThis is the big economic update since our last episode.Canada has implemented counter-tariffs ranging from 15–50% on approximately $28 billion of U.S. imports.ATB estimates the tariffs could add roughly 0.2–0.3 percentage points to inflation and shave approximately 0.5 percentage points from Canadian GDP growth.For Alberta, the estimated macroeconomic impact is smaller — around 0.2 percentage points — although the impact will vary significantly from business to business.🌾 What does this mean for Alberta?We talk about the bigger conversation happening around trade diversification, removing internal trade barriers and expanding Canada's access to international markets.It's not as simple as saying tariffs are “good” or “bad.”But they are forcing Canada to confront how dependent we are on our largest trading partner — and what we might do differently going forward.📉 Are we heading for a recession?ATB's current base case is slower growth and higher inflation, but not a recession.So what should we actually be watching?The U.S. response.Inflation.Employment.Interest rates.Business confidence.And, closer to home, what happens to buyer and seller activity in September.Probably less than the headlines make you think.The economy matters. Rates matter. Consumer confidence matters.But housing is local.And people still need homes.Families still upsize. People still move. Businesses still grow. Life keeps happening.So rather than trying to perfectly predict the market, we're heading into fall focused on understanding the data and helping buyers and sellers make decisions that actually make sense for their situation.Hosted by Annie Demello & Paula.