Calgary resale market remains in balance
Inventories continue to fall, but sales growth eases to keep market stable
Calgary, Dec. 3, 2012 – Residential sales in the City of Calgary have increased by 15 per cent on a year-to-date basis, and were up 8-per-cent in November compared to the same month in 2011.
Nearly eight consecutive months of double-digit, year-over-year sales growth has caused inventory levels to decline because new listings have not kept up. However, the ratio between sales and inventory indicates the market remains in balanced territory.
"With fewer inventories in the market, consumers are eager to view new listings and if consumers see value they will buy," said Bob Jablonski, CREB® President. "However, the market is not…