Nov. 07, 2015 | Jamie Zachary
CREB® report singles out changing conditions in apartment sector
Buyer's conditions in the apartment sector are contributing to a continued shift in Calgary's resale residential housing market, which experienced a second consecutive month of price declines in October, according to CREB®.
The local housing agency noted that while overall, new listings in the city did not decline enough to prevent inventory gains and, ultimately, price contractions, the biggest shift continued to occur in the apartment sector.
CREB® chief economist Ann-Marie Lurie noted months of supply in that sector have gone from a low of three months in June to nearly six months in October.