The level of new listings in January fell to the lowest levels seen since the late 90s. While new listings fell in nearly every price range, the pace of decline was higher for lower-priced properties.
At the same time, sales activity did slow compared to the high levels reported last year but remained consistent with long-term trends. However, there has been a shift in the composition of sales as detached homes only comprised 47 per cent of all sales.
“Higher lending rates are causing many buyers to seek out lower-priced products in our market,” said CREB® Chief Economist Ann-Marie Lurie. “However, the higher rates are likely also preventing some move-up activity in the market impacting supply growth for lower-priced homes. This is causing differing conditions in the housing market based on price range.”
To read the full stats release on January's housing market for Calgary and surrounding areas, click here.
January housing market snapshot
(Shareable social media images - click on the images to enlarge and save)
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
Members can also access a wide range of housing data tools and dashboards on CREB®Link.
