Calgary home sales decline 10% in July from last year, prices rise: CREB

The Calgary Real Estate Board says July location income dropped 10 per cent year-over-year arsenic 2,380 properties were sold.

The committee says nan benchmark value crossed each location types was $606,700 for July, akin to past period and astir 8 per cent higher than past year.

Ann-Marie Lurie, main economist astatine CREB, says while nan Calgary marketplace struggles pinch proviso of lower-priced homes, much options successful some nan caller and resale markets person helped dampen nan gait of location value growth.

Trending Now

She says nan results are successful statement pinch expectations for nan 2nd half of nan twelvemonth and if inventory continues to rise, it will consequence successful much unchangeable location prices.

The committee says July inventory levels topped 4,000 units for nan first clip successful astir 2 years but still remains 33 per cent beneath emblematic July levels.

CREB says while nan highest proviso maturation was seen for homes priced supra $600,000, nan emergence has helped displacement distant from nan utmost sellers’ marketplace seen successful nan spring.