Inventory climbs in Calgary’s housing market

Year-over-year new Calgary real estate listings growth eased from 37 per cent last month to nine per cent in February. However, as sales activity remained below long term averages for the month, Calgary inventory levels rose to 5,474 units in February.   “While housing supply levels continue to be higher than we have seen in Calgary for some time, they remain below February 2008 record highs of nearly 7,000 units,” said CREB® chief economist Ann-Marie Lurie. “If the pace of growth in new listings continues to ease, this could place some downward pressure on the supply growth in the resale market.”   After the first two months of the year, there have been 6,236 new listings come onto the Calgary market. However, the new listings gains have varied depending on price range and segment. Detached homes have continued to see a decline in new listings in the under $400,000 segment, while both the apartment and the attached product have recorded listing growth in the over $300,000 price range.>>Read more  

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