July 18, 2016 | Jamie Zachary
Indicators suggests Calgary's housing market might be evening out
New housing market statistics are reinforcing the emergence of so-called balanced conditions in Calgary.
In its monthly stats package for June, CREB® noted key segments of the local market are seeing increased price stabilization brought upon by more moderate sales declines and listing increases.
CREB® chief economist Ann-Marie Lurie singled out last month's detached sector, which saw new listings decline at a faster rate than sales (five and 3.7 per cent, respectively) for only the second time in the past 12 months – the last time coming in January. As a result, the sector's benchmark price totaled $502,400, which was 0.4 per cent higher than May, yet still 3.4 per cent lower than last year's levels.