SEPTEMBER SALES STAY STRONG
Rise in new listings prevents further tightening in the resale market.
(click here for the full .pdf report)
City of Calgary residential sales totaled 1,923 units in September, 19 per cent higher than last year and 14 per cent higher than long-term averages for the month.
While sales activity over the past three months has been above long-term trends, it was less so in September than in July and August.
“The impact of the floods likely boosted sales throughout July and August, and it appears as though some of that additional demand is starting to ease,” said Ann-Marie Lurie, CREB® chief economist.
“Nonetheless, sales growth remains strong, in part because net migration has been stronger than anticipated and rental product is in short supply.”
As Calgary’s market remains in seller’s territory, a notable shift is occurring with new listings. While monthly levels of new listings have been declining since 2011, over the past three months the levels of new listings have improved. The growth was not enough to cause any significant changes in inventory levels, but it has helped prevent further tightening in the market.
For the full report, click on the link: Monthly Housing Statistics Report – September 2013
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