When it comes to homeownership these days, one of the biggest and most talked about issues is affordability. This issue is particularly relevant when it comes to a generation of young Canadians that many people say is struggling to enter the marketplace due to the high costs of owning a home.

However, like anything else in this country, affordability is relative and truly dependent on context. If you're a millennial or a potential first-time homebuyer of any stripe, you're much better off entering the market in Calgary than other major centres like Vancouver or Toronto.

Year-to-date residential sales in the city remain just above last year's levels due to improvements in the attached sector so far this year.

However, November sales activity eased over last year's levels, mostly due to pullbacks in the apartment sector.

Sales activity in October improved by nearly 10 per cent compared to last year, driven mostly by improvements for apartment and attached product.

For the third consecutive month, sales activity improved over last year's figures, and year-over-year new listings and inventories eased. This trend will help support more stability in the housing market.

Calgary communities that provide convenient access to desirable amenities and major roadways are leading the way in growth.

Many homeowners look after their property with great care, staying up to date on maintenance and completing any repairs needed to keep their home in tip-top shape.

However, not everyone is so thorough, so when buying a home, it pays to keep your eyes open for any maintenance red flags that could indicate potentially expensive problems.

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."

Proper pricing is a crucial part of selling your home

If you want to sell your home, it is critical to have it priced correctly. If it's priced too high, it will be passed over in the sea of listings at this busy time of year. If it's priced too low, you risk the chance of leaving thousands of dollars on the table.