Prices rise as resale market continues to favour sellers
Calgary, June 3, 2013 – City of Calgary residential monthly sales improved over the previous year, mostly driven by increased demand in the condominium market.
Sales activity in all categories totalled 2,544 units for the month, a 7% increase over May 2012 figures. Last spring was the first time since the recession that we saw more typical levels of sales, and this spring sales recorded further growth.
Sales growth in the city is exceeding expectations, although the rate of increase has slowed from 2012’s double digits. There is downward pressure on inventory levels, because there are fewer than normal new listings at a time when sales volume is increasing. Inventory levels are 17 % lower…