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February 2016

Found 1 blog entry for February 2016.

Slow sales activity and inventory gains place downward pressure on prices..

Calgary, Feb. 1, 2016 – Calgary’s housing market is starting 2016 firmly in buyers’ market territory, much the same as last year ended. The recent slide in energy prices has raised concerns about near- term recovery prospects for the city. Energy market uncertainty and a soft labour market are weighing on many aspects of our economy, including the housing sector.

January sales totaled 763 units, 13 per cent below last year and 43 per cent below long-term averages. While new listings declined by 16 per cent compared to January 2015, the number of new listings far outpaced the sales, causing inventory gains. January’s city wide months of supply levels rose above six months.

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Re/Max, CREB Certified Condominium Specialist