Calgary resales market is ‘balanced’ says Conference Board

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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.
  • Calgary Appraiser on 2014-12-19 3:22:41 PM

    So then, if the oil patch is putting all new activity on stall, laying off contractors and skilled staff, consumer confidence will fall. How then will the market not continue to decline?

  • Joe on 2014-12-21 6:20:19 PM

    Hey, Calgary Appraiser, lies that trigger wants and greed for a profits has been pretty good driving factor in this economy, wouldn't you agree? Certainly cheap alternative to economical stimulus. They say 30% overvalued and I disagree. I looked outside of my window and see people that are willing to pay those prices but none of those look like me. Personally I think it's blown over whole lot more than they are prepared to admit to.

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