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Homes under $500,000 moving to more balanced conditions

City of Calgary, November 1, 2019 – Sales activity in October improved by nearly 10 per cent compared to last year, driven mostly by improvements for apartment and attached product.

New listings also eased, which helped reduce inventory levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year’s levels.

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Third quarter 2019 housing market update: Stronger sales driven by affordable product and supply reduction

City of Calgary, October 22, 2019 – Third-quarter activity continues to show signs of improvement. Similar to last quarter, much of the improvement in the market has been driven by supply adjustments.

However, the housing market has also benefited from stronger year-over-year gains in sales activity this quarter. Price declines have likely contributed to some of the demand growth. Also, sales growth has been driven by product priced under $500,000. Continue reading

Shifting to stability

City of Calgary, October 1, 2019 – For the third consecutive month, sales activity improved over last year’s figures, and year-over-year new listings and inventories eased. This trend will help support more stability in the housing market.

“Price declines have likely brought some buyers back into the market,” said CREB® chief economist Ann-Marie Lurie, noting improvements in the market continue to be driven by homes priced below $500,000. Continue reading