Calgary's stablizing oil industry and improving unemployment rates have been supporting real estate sales in 2017, but both buyers and sellers remain relatively tentative as the city continues to recover from the ongoing downturn in the oil sector. An increase of new developments in recent years has led to increased inventory of condos. The supply has heavily outweighed the demand, as a result sellers have had to decrease their expectations and sell for less. Detached single-family homes remain in highest demand, particularly from move-up and first-time buyers, latter of which often receive financing assistance from family. The lower-end of the market may see a slight increase in average sale price and activity as buyers reduce their budgets following the mortgage rate stress test on January 1, 2018.