Media release: Homes under $500,000 moving to more balanced conditions City of Calgary, November 1, 2019 – Sales activity in October improved by nearly 10 per cent compared to last year, driven mostly by improvements for apartment and attached product. New listings also eased, which helped reduce inventory levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year’s levels. “Employment has shifted in the city, with job growth occurring in our non-traditional sectors and often at a different pay scale. This is consistent with the shift to more affordable housing product,” said CREB® chief economist Ann-Marie Lurie. “However, at the higher end of the

Shifting to Stability City of Calgary, October 1, 2019 – For the third consecutive month, sales activity improved over last year’s figures, and year-over-year new listings and inventories eased. This trend will help support more stability in the housing market. “Price declines have likely brought some buyers back into the market,” said CREB® chief economist Ann-Marie Lurie, noting improvements in the market continue to be driven by homes priced below $500,000. In the condominium apartment market, sales improved by 16 per cent this month. This represents the segment’s best September since 2015. Year-to-date growth in both the attached and apartment sector were enough to offset the modest decline in the detached sector resulting in year-to-date sales growth of nearly one

Sales activity increase led by lower-priced homes City of Calgary, September 3, 2019 – Increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000. “Employment numbers have been improving, but mostly in industries that are traditionally lower paid,” said CREB® chief economist Ann-Marie Lurie. “This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.” Rising sales for homes priced under $500,000 off set sales declines in the higher price ranges. This caused August sales to improve by six per cent compared to last year. Sales activity improved for all product types. The growth was largest for apartment-style and

City of Calgary, August 1, 2019 – For the fourth consecutive month, inventories in the market declined compared to last year. This is due to the combination of improving sales and a decline in new listings. The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to support more balanced conditions. “We are starting to see reductions in supply across the resale, rental and new-home markets,” said CREB® chief economist Ann-Marie Lurie. “This adjustment in supply to the lower levels of demand will support more balanced conditions. It is starting to support more stability in prices. If this continues, the housing market should be better positioned for recovery as we move into

Oversupply is slowing, but a buyers’ market remains City of Calgary, July 2, 2019 – New listings coming onto the market continued to decline in June, which is helping to reduce the oversupply of homes in Calgary. Year-over-year, new listings saw a decrease of nearly 19 per cent. Sales activity slowed this month compared to last year by six per cent, but the pullback in new listings was enough to cause inventories to fall by 13 per cent compared to last year’s elevated levels. “So far, the housing market has generally behaved as expected this year. Sales activity remains just below last year’s levels, prices have eased and supply is starting to adjust to the lower level of sales,” said CREB®