Calgary Real Estate Statistics for June 2019
Media release: Buyers' market continues with oversupply decreasing
Declines in new listings coming onto the market in June, helping to scale down the oversupply of homes in Calgary.
Roughly a 19 per cent decrease in new listings year-over-year. Compared to last year sales activity slowed this month by six per cent, but the decline in new listings caused inventory to decrease by 13 per cent in comparison to elevated levels last year.
As CREB® chief economist Ann-Marie Lurie states “So far, the housing market has generally behaved as expected this year. Sales activity remains just below last year’s levels, prices have eased and supply is starting to adjust to the lower level of sales."
“However, it is mostly product priced under $500,000 that is trending towards more balanced conditions.”
With the market still in favour of the buyer - showing 4.3 months of supply - oversupply has decreased and...