Welcome to the new normal. A quarter of the downtown core remains vacant, job growth is flat, and general market sentiment remains tepid at best. Calgary is not threatening to boom like it used to – it is merely operating within a more consistent, quieter status quo.
The new year started similarly to the way 2018 did, as again the first quarter experienced positive absorption, though not enough to make any material change to market conditions. Vacancy now resides at 24.34%, down from 25.06% last quarter.