"The number of sales exceeded the number of new listings in December contributing to further declines in inventory." - CREB® December Report
"Annual sales activity declined by one per cent compared to last year and remain well below long-term averages." - CREB® December Report
"The recent gain in the benchmark price was not enough to offset earlier pullbacks as the annual residential benchmark price in Calgary declined by one per cent over last year." - CREB® December Report
"Housing demand over the second-half of 2020 was far stronger than anticipated and nearly offset the initial impact caused by the shutdowns in spring. Even with the further restrictions imposed in December, it did not have the same negative impact on housing activity like we saw in the earlier part of the year." - CREB® Chief Economist Ann-Marie Lurie
"The pandemic has resulted in a significant shift in economic conditions, yet the housing market is entering 2021 in far more balanced conditions than we have seen in over five years." - CREB® December Report
Overall this report is incredibly positive and an excellent way to lead into the new year!
Have questions? Ready to make your move? Contact Ken Richter directly at 403-630-6363.