The Calgary Real Estate Board has released their monthly Calgary real estate statistics summary, this time for the month of August. Here are some of the highlights from the report that are important for you to know, whether you're looking for a house, own a house, or would like to own a house one day.
- "Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors...With 1,573 sales in August, this is consistent with levels over the past five years. Year-to-date sales activity remains nearly 13 per cent below last year." - CREB August Report
- "Recent national reports have shown a bounce back to new record levels over the past several months. Calgary has seen improvements over the lows recorded during the lockdowns but is far from record levels. The situation in Calgary has been slightly different as the job losses were not isolated to sectors that are typically associated with rental demand. We have started to see improvements in the job market compared to previous months as some jobs start to return. There have been more than 100,000 jobs lost since last year and Calgary’s unemployment rate sits at 15 per cent. This is well above the national average of 11 per cent." - CREB chief economist Ann-Marie Lurie.
- "New listings are easing and is helping to chip away at existing inventory compared to the higher levels recorded last year. The months of supply has also risen compared to the past few months and now sits at four months." - CREB August Report
- "The residential benchmark price in August was $420,800 and is nearly one per cent lower than last years’ levels." - CREB August Report
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(Photo via Canva)