So far this year, residential sales year-to-date in Calgary remains just above levels last year due to increases in the attached sector.

Nevertheless, sales activity in November decreased over levels last year, chiefly due to pullbacks in the apartment sector.

While new listings eased relative to sales, causing inventories to ease and oversupply to reduced slightly compared to levels last year.

“Achieving more stable conditions will take time. Sales activity has been settling in at lower levels and is likely being influenced by the economic conditions and uncertainty weighing on our market,” said CREB^® chief economist Ann-Marie Lurie.

“While the amount of supply in the market continues to ease, the persistent oversupply continues to weigh on prices.”

Citywide, as of November, the unadjusted benchmark price was $419,100....