May 02, 2018 | CREBNow
Prices steady, but struggles in Alberta economy weigh on housing
Changes to the lending industry and a challenging economic recovery are weighing on sales activity in Calgary's housing market.
Supply levels have not adjusted to the weaker demand environment, and that is preventing price recovery.
"Slower sales do not come as a surprise, given the economy has not yet improved enough to offset the impact of changes in the lending industry," said CREB® chief economist Ann-Marie Lurie.
"While the rising inventories are being monitored, prices have remained relatively flat as gains in some areas of the city have been offset by declines in other areas."