Calgary Real Estate Market Statistics for December 2018
Soft Job Market and Restrictions on Lending Influenced 2018's Real Estate Market
City of Calgary, Tost Realty Group, January 2, 2019
As oversupply is still a pertinent issue, prices during December slowed by one per cent, and are currently situated at over three percent below this time last year.
CREB chief economist Ann-Marie Lurie stated last month that “Persistent weakness in the job market and changes in the lending market impacted sales activity in the resale market this year”. This definitely contributed to a heightened supply in the resale market, resulting in a decline in price.
Sales in December sat at a total of 794 units, a 21 per cent decline over the previous year. Overall year-to-date sales in the city sat at a total of 16, 144 units, a 14 per cent dip from two years ago, and 20 percent below previously standing long-term averages.
The Inventory levels statistic...