Calgary's Housing Market is Gaining its Momentum Back
Updated: 3 days ago
Calgary continues to be in a buyer's haven with prices still on decline.
According to CREB® chief economist Ann-Marie Lurie, “Price declines have likely brought some buyers back into the market.”
Oversupply of units with atleast 5 months worth of listings this September is what's driving the prices down.
The good news is for the third consecutive month, the market is showing increase in sales activity on a year over year basis. In September, there are 1, 371 sold listings, which is 8.21% more than last year's sales.
In addition, we see a trending drop in the inventory with 2.20% less compared to August and 13.47% decrease from last year.
With these conditions, it looks like the Calgary housing market is finally gaining a bit of stability. And we hope this trend continues.
For more details, click here to read the entire report from CREB.
To learn more on how you can get your own customized email newsletter with these easy-to-follow infographics, please visit our Email Newsletter page. Or, if you want to get our custom-made, visual market reports for Calgary and its communities, please check out our Reports page.