Soft Sales Continue in April - April Market Summary
Posted by Ken Richter on
Sales are continuing to struggle in this tight economy. Paired with stricter lending rules that are making it more difficult for people to get approved for a mortgage following a stress test, the Calgary market is not thriving. Supply levels have also not changed, which is putting more pressure on sale prices. Despite all of this, we are optimistic that now that the snow has melted and the spring market is in full swing, things will start to get better.
CREB® chief economist Ann-Marie Lurie says, "Slower sales do not come as a surprise, given the economy has not yet improved enough to offset the impact of changes in the lending industry. While the rising inventories are being monitored, prices have remained relatively flat as gains in some areas of…
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