Home sales in July slipped by three per cent year-over-year as the market continues to experience a slowdown.
While this is the second month where sales activity has slowed, total residential sales this month are still amongst the strongest levels recorded in our market.
“Rising lending rates are causing shifts within the market and, as a result, new listings for higher-priced product are on the rise relative to sales activity,” said CREB® Chief Economist Ann-Marie Lurie.
“Meanwhile, there continues to be a lack of supply for lower-priced detached and semi-detached product. This is driving consumers who are looking for affordable homes to purchase apartment- and row-style properties.”
July housing market snapshot
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(Click on image to enlarge)
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
To read the full stats release on July's housing market for Calgary and surrounding areas, click here.
Members can also access a wide range of housing data tools and dashboards on CREB®Link.
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