March 2018 Statistics
Posted by Ken Richter on
The Calgary housing market in March went exactly as expected. Unfortunately, due to economy not yet being fully recovered and due to stricter lending rules, sales were slow and inventory rose. First quarter sales totaled 3,423 units, which was 24 per cent below long term averages and18 per cent below last year's stats. Months of supply have reached four months.
The benchmark price for a detached home was $503,800, which may have been 3.6 per cent below highs before the recession, but was one per cent above the lows recorded during the recession. So, there is very modest improvement.
"Economic conditions are slowly improving, but it has not been enough to outpace the current impact of higher lending rates and more stringent conditions,” said CREB®…
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