The Calgary housing market was a buyers market during the month of November, with sales declining and inventory levels rising in response to troubled economic conditions.
According to the latest CREB report, monthly sales totaled 1,263 units during the month of November, representing a 28 percent drop when compared to the same time last year. The figures are also 20 percent below the 10-year average for the Calgary housing market.
Just as sales are on the decline, the number of new listings hitting the Calgary housing market has increased by five percent when compared to November 2014. This represents a five percent increase over the 10-year average.
As a result of the decline in sales combined with the increase in listings, the housing supply within the market has increased to more than four...