According to Anne-Marie Lurie, chief economist for the Calgary Real Estate Board (CREB), a spate of new construction and development in Calgary is leading to lower prices for apartments and condos in the city.

“We’re seeing a lot of rental construction happen across the city,” Lurie said. “You know, a lot (of) new developments.”

With 1,774 units available in March, according to CREB’s latest stats on housing starts, the inventory is just shy of the record high reported during the financial crisis of 2008.

While the supply is up, the cost of purchasing a condo is down according to the latest numbers from the Calgary Real Estate Board.

The average price of $300,300 in March is about nine per cent less than the same month last year.

“In terms of how the market is shifting is we’re really seeing additional supply choice, relative to the demand,” said Lurie. “So softer conditions for sure for that apartment condo style product. That’s something that we’ve been seeing for several months (and it’s) just really persisting into spring.”

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

The increased supply and lower prices also mean its a good time to buy a condo, according to Calgary realtor Ariel Buenaventura of ReMax First.

“One hundred per cent. It’s definitely a buyer’s market for condos. I’d say a pretty solid strategy would be to sit and watch the market as it declines in prices, but there comes a point where the property’s price is so attractive that another person’s going to see that and snap it up,” said Buenaventura

“So there’s kind of this balancing act that you have to say, OK, this is probably the bottom. We got to buy this thing or else somebody else will.”

Buenaventura estimates many condos that were on the market for 30 days or less last year are on the market for double or triple that this year before being sold.

The lower cost of purchasing a condo, claims Buenaventura, is also turning many prospective buyers into renters.

“Rental rates right now are falling because there’s so much inventory coming online. There’s a lot of purpose-built rentals,” said Buenaventura.

“Almost every single crane that you see downtown, those are building rentals, there’s office conversions happening, and because of that you’ve got a more affordable rent.”

While overall the supply of condos is up and prices are down in Calgary, CREB claims some areas of the city are also more affected than others.

“City Center hasn’t seen as much of an adjustment as opposed to the northeast,” or the southeast, said Lurie.

“Higher levels of price adjustment is either because there’s a lot of supply in those areas where there’s lots of new construction and a lot of new developments happening — so in the northeast all the way down into that southeast — as opposed to other areas (where) we’re just seeing some modest adjustments, like the northwest, city center and to a lesser extent some of the south” added Lurie.

The buyers market for condos is forecast to continue for the rest of this year and into 2027.

1:56
Opportunities abound for 1st-time homebuyers as housing market softens

&copy 2026 Global News, a division of Corus Entertainment Inc.

Benchmark home prices in Saskatchewan hit a record high of $374,100 last month, reflecting a price increase of more than six per cent compared to 2025, the province’s Realtor’s group reported Monday in its monthly update.

A major cause of the price spike is a decrease of almost 25 per cent in the number of listings typically available in the late-winter early-summer seasons compared to long-term historical averages.

“We are seeing record prices not because demand is accelerating, but because there simply are not enough homes available,” Chris Guérette,  CEO of the Saskatchewan Realtor’s Association, said in a press release accompanying the monthly update.

Get breaking National news

Get breaking Canada news delivered to your inbox as it happens so you won’t miss a trending story.

In March, 1,808 new residential listings were listed and buyers purchased 1,256 properties, according to the association.

The report said Saskatoon had “the tightest conditions in the province” with an estimated 1.6-month supply of active listings, assuming all the conditionally sold homes see the keys change hands.

“New listings improved compared to March 2025 but remain well below 10-year trends,” the report added.

Regina’s conditions aren’t quite as stretched, with the association estimating 1.7 months inventory of listings.

Benchmark home prices in both cities rose, with Saskatoon seeing an average sale price of $435,200 and Regina reporting $343,700.

“Demand is still there, but supply hasn’t kept pace. That imbalance is what’s driving price growth and putting pressure on buyers, particularly those trying to enter the market for the first time,” said Guérette, who believes this seller’s market is unique compared to the rest of Canada.

Looking at Saskatchewan’s neighbours, Alberta also experienced year-over-year price growth, but gains were limited to 1.6 per cent, according to the province’s real estate association. Meanwhile, the Winnipeg Regional Real Estate Board reported “statistically even” prices when comparing February of this year to last.

&copy 2026 Global News, a division of Corus Entertainment Inc.

Tax season is stressful enough, but avoidable mistakes can turn a routine filing into an expensive headache.

With Tax Day just 10 days away, even small errors can mean the difference between a smooth refund and frustrating delays. In some cases, they can even trigger IRS notices or unexpected penalties.

Here are five common filing missteps to watch out for and how to avoid them:

1. Choosing the wrong filing status

Tax scams have evolved from unemployment fraud to social media “tax hacks,” with the IRS warning of new threats for the 2026 filing season. (Michael Bocchieri/Getty Images)

Your filing status is one of the most important choices on your tax return because it helps determine your tax rate, your standard deduction and which credits you may be eligible to claim. Pick the wrong one, and you could end up paying more than you owe, getting a smaller refund or triggering delays if the IRS flags the return for review.

For many taxpayers, the confusion comes from life changes that happened during the year, like getting married or divorced, having a child, moving in with a partner, supporting an aging parent or sharing custody. Even if your situation feels straightforward, the IRS rules can be less intuitive, especially for taxpayers who aren’t sure whether they qualify as “head of household” or whether they can still file as “qualifying surviving spouse” after a spouse has died.

RETIRED? HERE’S WHEN THE IRS MIGHT TAKE A CLOSER LOOK AT YOUR FINANCES

Head of household, in particular, can be costly to get wrong. It typically comes with a larger standard deduction and more favorable tax brackets than filing as single – but it has strict requirements tied to paying more than half the cost of keeping up a home and having a qualifying dependent. If you don’t meet the rules and claim it anyway, you may have to pay back tax benefits later, plus penalties and interest.

When in doubt, the IRS has an online filing-status tool, and many tax software programs will walk you through the questions to help you choose the right category.

2. Leaving credits on the table

A woman preparing her taxes. (Kurt “CyberGuy” Knutsson)

One of the biggest and most expensive tax-season mistakes is failing to claim every credit or deduction you qualify for. That can mean a smaller refund or a higher bill.

“I think the top mistake people make is not fully understanding or taking the time to really research what are all the different deductions and the ways that you can put a little bit of extra money in your pocket that are available to you,” said Bill Sweeney, senior vice president of government affairs at AARP.

AVERAGE TAX REFUND TOPS $3,700 MIDWAY THROUGH FILING SEASON, TREASURY SAYS

Sweeney also warned taxpayers not to rely on last year’s return as a blueprint for filing because of recent changes to the tax code from the One Big Beautiful Bill Act. 

“This would be a good year given that there are these changes to the tax code, to make sure not to assume that what you did last year will convey over to this year. Really take a fresh look at your tax situation and see if there’s money that you’re leaving on the table,” he said.

3. Missing key deadlines

A couple is seen going over tax paperwork. (iStock)

An extension can buy you time to file your paperwork, but it doesn’t give you extra time to pay. For most taxpayers, the IRS deadline to pay what you owe is April 15, 2026 – even if you request an extension to file later.

“Remember that even if you claim an extension, the money is owed on April 15,” said Mike Faulkender, co-chair of American Prosperity at the America First Policy Institute.

WHAT TRUMP’S NEXT PICK TO LEAD THE FEDERAL RESERVE MEANS FOR YOUR WALLET

Faulkender, a former Treasury official and IRS commissioner, said taxpayers who need more time should still estimate their bill and pay by the filing deadline to help avoid added costs.

“You have to actually send in a check or have the payment deducted from your account by the filing deadline,” he said.

If you can’t pay in full by April 15, pay what you can to help limit penalties and interest on top of your tax bill.

4. Entering bank account details incorrectly

If you choose direct deposit for your refund, the IRS relies on the routing and account numbers you provide. One wrong digit can lead to delays. 

If you pay what you owe by direct debit, incorrect banking details can also lead to a rejected payment and potentially result in penalties and interest.

5. Filing before all your tax forms arrive

Timing matters when it comes to filing your taxes. Submitting your return before you’ve received all your key paperwork, like W-2s or 1099s, can lead to errors, missing income or a return you have to amend later.

Faulkender said there’s a simple way to double-check what’s been reported under your name before you file. 

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

“One of the things that I learned last year when I was IRS commissioner, was that if you create an account on irs.gov, you can see everything that’s been filed under your tax ID,” he said. 

“We’re supposed to receive all of our W-2s and our 1099 forms in the mail in January and February. But if you’re missing one, or you misplaced it rather than requesting it again, you can actually go and see what was filed under your taxpayer identification number if you create an account on IRS.gov.” 

Filing late can also cost you extra money, especially if you owe. The goal is to wait until you have what you need, then file as soon as you’re ready.

It is no secret that high gas prices are affecting British Columbians and Canadians, but the impact is also affecting organizations.

“Starting to get anecdotal data, just when we’re comparing sort of the previous year and that sort of thing, where there’s more people again coming to the food bank,” Kim Savage, the Surrey Food Bank executive director, said.

Savage said that for many people, there is no room left in their budgets and higher gas prices are making it more expensive to get around, while driving up the price of food as those costs move through the supply chain.

“Sort of a one-two punch,” Savage said.

That same pressure is showing up at the Union Gospel Mission, with staff saying they are seeing more people who need emergency support.

“With the major increase in the cost of gas, we’ve actually noticed an uptick in folks trying to access the emergency hamper for the first time and also trying to access support services after cheque week,” Nicole Mucci with the Union Gospel Mission said.

1:53
Union calls for more remote work due to gas prices

More pressure may still be coming.

Get breaking National news

Get breaking Canada news delivered to your inbox as it happens so you won’t miss a trending story.

The Canadian Federation of Independent Grocers says suppliers are already warning stores of price hikes and fuel surcharges.

“If you’re an independent grocer on tight margins of two per cent, that’s not a figure I plucked out of thin air, it’s Stats Can and you’re faced with double-digit price increases from your suppliers, you have to pass those on,” Gary Sands with the Canadian Federation of Independent Grocers, said.

All of it is adding up for households already stretched.

The Surrey Food Bank says demand is up 50 per cent from just two years ago and it is still rising.

“The constant struggle with people’s pocketbooks in affordability, lagging economy, all of those sorts of things,” Savage said.

&copy 2026 Global News, a division of Corus Entertainment Inc.

The impact of higher fuel prices due to violence in the Middle East is now starting to show up in more places, including flight bookings.

WestJet will begin charging more for customers to use one of the perks included in their annual rewards membership, due to aviation fuel skyrocketing in price.

Beginning April 8, WestJet said it will introduce a temporary fuel surcharge of $60 on all bookings made with a companion voucher.

The vouchers are part of WestJet’s Mastercard credit card and rewards programs, allowing the account holder who buys a round trip for themself to get a reduced fare for a second guest on the same itinerary.

WestJet said the new $60 fee will be reflected in the “other ATC” (air transportation charges) portion of companion voucher bookings.

The current cost for WestJet members to cash in their round-trip companion vouchers is:

Within Canada or to/from continental U.S.:
UltraBasic, Econo, EconoFlex: $119 (plus taxes, fees, charges and other ATC)
Premium or Premium Flex: $219 (plus taxes, fees, charges and other ATC)

Elsewhere in the world:
UltraBasic, Econo, EconoFlex: $399 (plus taxes, fees, charges and other ATC)
Premium or Premium Flex: $499 (plus taxes, fees, charges and other ATC)

The Calgary-based airline said it will continue to assess the surcharge and adjust as conditions allow.

WestJet did not say how long the temporary fuel surcharge will remain in place.

“Fuel is the largest contributor to airline operating costs, and a temporary surcharge helps us manage the recent surge in fuel prices,” a spokesperson said in a statement to Global News on Friday.

“While airfares can be adjusted and have greater flexibility in pricing, the nature of our companion vouchers does not allow for this same flexibility.”

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

In the month since the Israel-United States attack on Iran resulted in the shutdown of the Strait of Hormuz ocean passage, experts have warned that an increase in energy costs would be passed on to consumers as major shortages were forecasted.

1:49
Soaring fuel costs impacting package deliveries, food prices in Canada

About one-fifth of the world’s oil supply — 20 million barrels per day — travels through the waterway between Iran and the Arabian Peninsula on its way to the open seas and then to global customers.

With fuel not passing through the strait, crude has now soared to its highest price in years and its derivatives — jet fuel, diesel and gasoline — have also shot up significantly.

The price of heavy fuel oil — used to power container ships and other large vessels — at the world’s top 20 refuelling hubs has nearly doubled since the U.S. and Israel launched attacks in late February, according to figures from data platform Ship & Bunker.

Jet fuel, diesel and gasoline all derive from crude, making them sensitive to any swerve in its price.

But aviation fuel has come under the greatest pressure, according to Sparta Commodities analyst June Goh. Jet kerosene tends to see the lowest inventories because it needs to be stored in specialized tanks, she said.

1:58
Iran war: Rising oil prices put financial pressure on Canadians

Consumers have been feeling the jump in the price of oil and its derivatives at the pumps and on their plane fares for weeks now, with no end in sight.

Airfreight, which has seen demand rise amid the dearth of container ship voyages, is also costing more as aviation fuel prices skyrocket.

“You’re going to start having money tacked on to making any transport movement,” said John Corey, president of the Freight Management Association of Canada.

“Ultimately, that’s going to flow through and the consumer is going to pay for that.”

4:31
Middle East airspace shutdown creates travel chaos

Fuel often marks airlines’ highest cost. Air Canada spent more than $5.1 billion on it in 2024, amounting to 24 per cent of the carrier’s operating costs — its largest expense.

“The recent sharp increase due to the situation in Iran has already made operating flights more expensive. Based on this, it’s likely further pricing adjustments may be needed,” WestJet spokeswoman Julia Kaiser warned in an email in mid-March.

Last month, Air Transat tacked on higher fuel surcharges for flights to Europe while large international airlines Air New Zealand, Australia’s Qantas Airways and Scandinavia’s SAS also announced price hikes abroad.

— With files from The Associated Press and The Canadian Press

&copy 2026 Global News, a division of Corus Entertainment Inc.

Canadians will be checking their bank accounts over the next few weeks hoping for a tax refund, but the spring bump is no longer just a bonus for many — it’s a financial lifeline, data shows.

Canada’s tax filing season is officially underway, with the tax filing deadline set at April 30.

An EQ Bank survey released last week shows more than one-third (36 per cent) of Canadians say they are relying on their tax refund more this year than last year, with the figure jumping to more than four in 10 (42 per cent) among younger Canadians aged 18-34.

Women (41 per cent) are more likely than men (32 per cent) to say they are relying on their refund for expenses.

“Canadians are using their refunds to reduce debt, build savings, and cover essential costs, with very little appetite for discretionary spending, like travel or dining,” said Dan Broten, senior vice-president and head of EQ Bank.

0:52
Tax season is here

The data shows that younger Canadians are more sensitive to the cost of living crisis than the general population, Broten added.

“This is generally a life stage where many are taking on new financial obligations — from housing costs to daycare expenses — often without the same financial cushion as older cohorts,” he said.

“To us, it shows just how much every dollar matters right now,” Borten said.

Younger Canadians are facing an uphill battle when it comes to building wealth, said Justin Leon, financial adviser at Wealthsimple.

“When a once-a-year tax refund becomes the moment you finally catch your breath, that’s a signal that the gap between income and expenses has become structural, not temporary,” Leon said.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Around 28 per cent of respondents said they used their tax refunds to pay down their debt, with 22 per cent saying they used it to cover weekly expenses. Another 28 per cent said they contributed to a registered savings plan, like an RRSP or a TFSA.

Only nine per cent said they plan to use their tax refund on non-essential purchases such as travel, dining out or entertainment.

“A lot Canadians rely on that tax refund as a way to kind of buoy up their finances and just get a bit more breathing room. The problem is it doesn’t last,” said Stacy Yanchuk Oleksy, CEO of not-for-profit credit counselling agency Money Mentors.

5:33
Time to get ready for 2026 tax season

It’s helpful to think ahead of time how you’re going to spend your tax refund, some financial advisors say.

“There’s no single formula that works for everyone, but a good starting framework is to think in thirds,” Leon said.

He recommends splitting your tax refund into three piles — one for paying down high interest debt, like credit cards, another for an emergency fund, and a third for a longer-term goal like putting it in a TFSA or RRSP.

“The order matters, though — high-interest debt almost always wins first, because the interest you’re paying is likely higher than any return you’d earn investing,” he added.

Oleksy recommends something called the “40-40-20” rule.

“Let’s say your refund is $1,000. We take 40 per cent, so $400, and we put it automatically into savings. You’ve got to pay yourself first. Take another 40 per cent, another $400, and put it onto debt and give yourself a bit of breathing room,” she said.

“And then, because we still have to live, take that last 20 per cent, or $200, and go have fun,” she added.

6:26
Don’t let scammers fool you this tax season

It may seem like a few hundred dollars from your tax fund may not go very far when it comes to building financial stability, but it goes “further than most people think,” Leon said.

“The earlier you start, the more compounding does the heavy lifting for you,” he said.

Financial advisers can often give you advice on how you can invest the money in your TFSA or RRSP, compounding it over time instead of just letting it sit idle.

“To put it concretely, $500 invested today in a diversified portfolio at a modest average return, left alone for 30 years, could grow substantially — without you ever adding another cent. Add regular contributions on top of that, and the picture changes dramatically,” he said.

He also recommends setting up automatic payments, even if it’s one as small as $25 a month.

“When investing happens automatically, you stop seeing it as a decision and it just becomes part of your financial rhythm,” he said.

&copy 2026 Global News, a division of Corus Entertainment Inc.