Thanks to a surge in new listings, sales activity reached a record high for the month of February with 3,305 sales. The rise in new listings caused adjusted inventories to rise above last months levels. However, with only one month of supply, the market continues to favour the seller.
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Calgary Market Insider January 2020
December sales improved to levels more consistent with activity recorded over the past five years. This follows weak sales activity last year.
A stronger second half in 2019 was enough to push annual sales up by 1%. “Price declines, lower mortgage rates and some modest improvements in full-time employment helped support some demand growth in the city. Reductions in supply are also contributing to the slow adjustment to more stable conditions in the housing market,” said CREB® chief economist Ann-Marie Lurie.
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Calgary Market Insider November 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.
Canada’s real estate market seen in full recovery mode as sales and prices gain in September. But what about Calgary?
Canada’s realtors produced another strong month of sales and prices in September, with gains in most major markets in a sign of strength for the nation’s housing market.
The number of units sold rose 0.6 per cent last month, extending a recent jump in activity that have seen transactions rise 16 per cent from a year ago, the Canadian Real Estate Association said Tuesday. Benchmark home prices rose 0.5 per cent in September, and are up 2.3 per cent over the past four months. Markets in British Columbia led gains in both sales and prices last month, with the country’s oil-producing regions the only ones showing any weakness.
The report is in line with other recent indicators that suggest housing has fully recovered from a slump earlier this year, helped by falling mortgage rates. The run of robust housing data gives the Bank of Canada another reason — along with strong job gains — to hold interest rates steady, even as counterparts around the world tilt toward easing policy.
“Home sales activity and prices are improving after having weakened significantly in a number of housing markets,” Gregory Klump, chief economist at the Ottawa-based realtor group, said in a statement. “How long the current rebound continues depends on economic growth, which is being subdued by trade and business investment uncertainties.”
bloomberg.com