Persistently high inventory levels within Calgary’s residential resale housing market, combined with weak sales activity, contributed to buyers’ conditions in November.
The combination of both soft sales and elevated listings caused months of supply to rise above four months. It represents the third consecutive month that housing supply in the city has remained near four months, which is an indicator that supports buyers’ conditions.
“The housing market is reflecting the realities of the economic conditions,” said CREB® chief economist Ann-Marie Lurie. “Calgary has continued to post job losses in the energy sector, 
unemployment levels are high, wages are down and recovery expectations have changed. All of these factors have contributed to the weak demand we have seen throughout the year.”
It’s definitely a “Catch 22” kind of market. With the interest rates at historic lows and the decline of market values this is truly a terrific time to buy an investment property, but because of the job losses, there is only a small number of prospective buyers.
For those who are selling, it is vital to know how the market is performing for your specific type of property!
Please feel free to contact us with any questions you may have.
Download Calgary and Area Real Estate Statistics – November 2015
If you are curious about the current market value of your home, or market conditions in general, please feel free to contact us.
Hope this helps!
Susanita de Diego
