Calgary Home Sales Fall 13%, October Prices Slide, Supply Climbs
Calgary’s Housing Market Cooled In October
Calgary’s housing market lost momentum in October, as home sales dropped 13% compared to the same month last year and prices continued their downward slide, according to new data from the Calgary Real Estate Board (CREB).
The city saw 1,885 homes change hands last month, while year-to-date sales fell nearly 16% to 20,082.
Inventory levels rose sharply, with 6,471 homes for sale in October, a 30% jump from a year earlier.
“Improved rental supply and easing rents have slowed ownership demand for apartment- and row-style homes.” said Ann-Marie Lurie, CREB’s chief economist.
The city’s residential benchmark price slipped 4.1% year-over-year to $568,000.
Regional markets mixed.
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