We have some important numbers to look at with the July Stats from The Calgary Real Estate Board(CREB).
Overall in July, there were 1,637 homes sold which is 6% lower than a year ago. The good news is that the Year-To-Date total of 11,957 homes sold is up 9% from 2016, and is right on track with the number of homes sold in 2015 which re-enforces the idea that things are improving.
The President Of The Calgary Real Estate Board David P. Brown has said that “Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement”.
CREB® chief economist Ann-Marie Lurie said that “Modest improvements in the labour market and net migration were necessary to support the turnaround in the housing market. However, current inventory levels and changes in the lending market continue to weigh on housing demand. Easing demand growth combined with elevated levels of supply will slow the pace of price recovery in our market.”
If you would like more information about these stats, or if you’re looking for an experienced and knowledgable REALTOR, please call me today!