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By Eli J. Ridder

REAL ESTATE

Political changes in 2025 could impact Medicine Hat’s low housing supply, realtor says

Jan 8, 2025 | 4:57 PM

A realtor said Wednesday that Medicine Hat’s continually low housing supply could be impacted by upcoming elections but, at least for this, year there doesn’t seem to be any relief on the horizon.

Housing inventory in the city fell 38 per cent year-over-year in the latest figures released in December by the Alberta Real Estate Association.

Low supply meant sales dropped to 58 last month, a 1.7 per cent decrease from the previous year. The ratio of new listings — 52 in December — to sales also saw a cut.

When asked if her industry is expecting any relief in the local market, president of the Medicine Hat Real Estate Board Cathie Catalano said there remains a lot of uncertainty.

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“Perhaps we would need a crystal ball to determine that, especially with the political landscape going on,” Catalano said.

“We’re up for another year where we really do need to just go with the flow and see what’s going to be the outcome…of everything through the political, immigration factors,” she added.

“We’ll be looking at a local election as well.”

Cathie Catalano is a realtor in Medicine Hat. Eli J. Ridder/CHAT News

The City of Medicine Hat’s application to the federal housing accelerator fund was denied last year. Despite that, the city said at the time it was still able to move ahead with policies to incentivize housing.