Calgary's housing inventory in January reached its highest level since 2020, with 4,391 homes on the market, a 20.6% increase year-over-year. New listings outpaced sales, causing inventory to rise across all property types, especially semi-detached homes (38%). The benchmark price dropped 4.7% to $554,400, with apartment prices falling 7.7% and row homes 5.2%, reflecting reduced buyer urgency amid increased supply.