Calgary Real Estate April 4, 2018
Sales volume has been down 18% since last year on a quarterly basis. This is, perhaps, primarily due to the new mortgage lending rules. Prices on the other hand remain relatively flat with Condominium apartments being down by 3% year over year (y/y). However detached property prices are up by 0.7%. For all practical purposes this is flat. As always, there are differences by region.
From the graph above it can be seen that while the trended months of supply (green line) is moving higher the y/y Benchmark price line is also slightly up to flat. By looking at the history of these two lines it can be seen that they usually move in opposite directions! Perhaps one of them will start to change soon!