Calgary resales market is ‘balanced’ says Conference Board
As the year draws to a close the resales market in Calgary is looking ‘balanced’ according to new analysis from the Conference Board of Canada. There was a slight dip in sales and prices in November but this month has smoothed that out. The board’s seasonally-adjusted annual MLS figures show a drop in sales volume of 1.5 per cent to 35,292 units with listings increasing to 52,236. The average price declined 0.4 per cent to $466,255. In December, despite six months of lower oil prices, the market is still buoyant although some analysts are forecasting some tougher times ahead as the impact of a slowdown in the oil industry bites. The Conference Board predicts short-term year-over-year increases in prices to be around 3-5 per cent roughly in line with the growth in the 12 months to November 2014.