July 2022 Real Estate Statistics Update

The stats are in! Here are the highlights from the Calgary Real Estate Board's latest report:

  • "Significant slowdowns in the detached and semi-detached market were nearly offset by sales growth in the apartment and row sectors." (CREB®)
  • "Listings for homes priced below $500,000 fell by 18 per cent, while levels rose by 20 per cent for homes priced above $500,000." (CREB®)
  • "With just over two months of supply, the market remains far tighter than anything experienced throughout the recessionary period experienced prior to the pandemic." (CREB®)
  • "As expected, the benchmark price did see some slippage relative to levels seen earlier in the year and rising lending rates have cooled much of the bidding war activity that was driving significant gains earlier in the year." (CREB®)

CREB® Chief Economist Ann-Marie Lurie writes, "Rising lending rates are causing shifts within the market and, as a result, new listings for higher-priced product are on the rise relative to sales activity. Meanwhile, there continues to be a lack of supply for lower-priced detached and semi-detached product. This is driving consumers who are looking for affordable homes to purchase apartment- and row-style properties. As we move forward, we do anticipate further rate gains will weigh on housing activity and prices, but not enough to completely offset the exceptionally strong gains recorded over the first half of the year."

You can read the full report by clicking here!

And as always, if you have any questions or are ready to make your move, contact Ken Richter directly at 403-630-6363 or Ken@KenRichter.com.

(Image created via Canva)

Posted by Ken Richter on


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