Dec. 01, 2014 | CREBNow
Improving inventories help ease price growth pressure
Calgary's residential resale housing market posted relatively strong November activity reaching 1,782 units, a three per cent increase over the previous year, and nearly 13 per cent above long term averages.
"Relative to other major centres, economic growth in Calgary remains one of the strongest in the country," said CREB® chief economist Ann-Marie Lurie. "Employment opportunities and relatively higher wages have encouraged people to move here, supporting the demand growth in our housing sector."
Meanwhile, new listings growth continues to outpace the gains in sales, supporting a 22 per cent year-over-year rise in November inventories to 3,849 units. While inventories have recorded significant gains, they remain below long-term averages for the month.