City of Calgary, June 1, 2016 – Calgary’s housing inventory was on the rise once again in May as new
listings climbed and sales slowed to 1,923 units. “While recent oil price gains may have some feeling optimistic, weakness in the labour market continues to impact housing demand,” said CREB® chief economist Ann-Marie Lurie. “Job losses are spreading into other sectors, wages are declining and unemployment levels remain high. At the same time, we’re seeing housing supply levels rise in the rental, new home and resale markets.” (Source: Calgary Real Estate Board)
When compiling this information every month I am sometimes surprised at how differently market segments perform. We have seen improvements in the absorption rates in all reported segments EXCEPT for Calgary Apartments and Cochrane Detached homes.
This data demonstrates why it is so important to look at all of the factors in your particular market segment when you are selling or buying.
Despite the super-heated markets in Vancouver and Toronto, interest rates continue to stay at historic lows, making this an ideal time to buy in any market segment.
If you are curious about the investment market or the current market value of your home, please feel free to contact us.
Hope this helps!
Susanita de Diego
If you are curious about the current market value of your home, please feel free to contact us.
Download Calgary and Area Real Estate Statistics – May 2016
