by Ken Richter
on Tuesday, July 7th, 2020 at 3:48pm.
The June 2020 Calgary real estate statistics summary was just released by the Calgary Real Estate Board, also commonly referred to as CREB. Here are some of the highlights from their report:
"After three months where COVID-19 weighed heavily on the housing market, sales activity in June continued to trend up from the previous month, totalling 1,747 units."
"monthly sales are nearly two per cent lower than activity recorded last year."
Chief Economist Ann-Marie Lurie says, "recent price declines, easing mortgage rates and early easing of social restrictions are likely contributing to the better-than-expected sales this month. However, the market remains far from normal. Challenges, such as double-digit unemployment rates, will continue to weigh on the market for months to come.”
New listings in June totalled 3,335 units, a six per cent increase over last year. "
"Sales activity was high enough to cause the months of supply to dip below four months for the first time since May 2019."
"Residential benchmark prices are comparable to last month, but they remain nearly three per cent lower than last year's levels."