Monthly Calgary Stats

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With strong gains in the detached sector, October sales in the city reached 1,764 units. This is a 23 per cent increase over last year and well above longer-term averages.

The gain in citywide residential sales outpaced the growth in new listings, supporting tighter market conditions and improving prices.

“Over the past several years, higher lending rates and the stress test pushed many out of the detached housing market. However, recent declines in rates, combined with prices that are lower than several years ago, have brought back some of that demand,” said CREB® chief economist Ann-Marie Lurie.

“This is helping support more balanced conditions and price improvements in the market. However, price improvements are not occurring across all

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Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors.

These gains offset declines in the apartment and semi-detached products. 

With 1,573 sales in August, this is consistent with levels over the past five years. Year-to-date sales activity remains nearly 13 per cent below last year.

“Recent national reports have shown a bounce back to new record levels over the past several months. Calgary has seen improvements over the lows recorded during the lockdowns but is far from record levels,” said CREB® chief economist Ann-Marie Lurie.

“The situation in Calgary has been slightly different as the job losses were not isolated to sectors that are typically associated

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After three months where COVID-19 weighed heavily on the housing market, sales activity in June continued to trend up from the previous month, totalling 1,747 units.

Caution remains necessary, as monthly sales are nearly two per cent lower than activity recorded last year. However, this represents a significant improvement compared to the past several months, where year-over-year declines exceeded 40 per cent.

“Recent price declines, easing mortgage rates and early easing of social restrictions are likely contributing to the better-than-expected sales this month,” said CREB® chief economist Ann-Marie Lurie.

“However, the market remains far from normal. Challenges, such as double-digit unemployment rates, will continue to weigh on the market for

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Housing market activity in May remained slow, but sales exceeded the lows from April, which saw less than 600 sales in Calgary.

May sales totalled 1,080 units, a 44 per cent decline from last year's figures.

"The initial shock of COVID-19 and social distancing measure is starting to ease. This is bringing some buyers and sellers back to the market. However, this market continues to remain far from normal and prices are trending down," said CREB® chief economist Ann-Marie Lurie.

"Activity has also shifted toward more affordable product, which is likely causing differing trends depending on product type and price range."

Sales are down in all price ranges, but a greater share of sales are priced below $500,000.

In the higher price ranges the

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After the first full month with social distancing measures in place, the housing market is adjusting to the effects of COVID-19.

April sales hit 573 units, a decline of 63 per cent over last year.

"The decline in home sales does not come as a surprise. The combined impact of COVID-19 and the situation in the energy sector is causing housing demand to fall," said CREB® chief economist Ann-Marie Lurie.

"Demand is also falling faster than supply. This is keeping the market in buyers' territory and weighing on prices."

Sales activity eased across all price ranges, but the largest declines were for homes priced above $600,000.

With a greater share of the sales occurring in the lower price ranges, the average price decline was more than eight per

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After a strong start to 2020, economic conditions have dramatically changed, as COVID-19 is impacting all aspects of society.

The economic impact is starting to be felt across many industries. This includes the housing market.

March sales activity started the month strong, but quickly changed, as concerns regarding the spread of COVID-19 brought about social distancing measures. This had a heavy impact on businesses and employment.

“This is an unprecedented time with a significant amount of uncertainty coming from both the wide impact of the pandemic and dramatic shift in the energy sector. It is not a surprise to see these concerns also weigh on the housing market,” said CREB® chief economist Ann-Marie Lurie.

By the end of March, sales

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