Apartments saw an increase in new listings over the year, but sales outpaced the new listings. “After several years of being oversupplied, the shift to tighter conditions supported annual price gains of nearly nine per cent,” the CREB report reads, but citywide prices remain “well below” previous highs in 2014.
“Housing market conditions have changed significantly throughout the year, as sales activity slowed following steep rate gains throughout the later part of the year,” CREB chief economist Ann Marie Lurie said in a statement.Calgary sales fall 15% in Oct., but on track for record year: real estate board
“However, Calgary continues to report activity that is better than levels seen before the pandemic and higher than long-term trends for the city. At the same time, we have faced persistently low inventory levels, which have prevented a more significant adjustment in home prices this year.”
Source: Real Estate Daily Report (realestatedailyreport.net)
Most likely foreign Investors from Vancouver jumped in along with their Canadian Real Estate agents.
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