Home prices in Calgary have, as expected, taken a hit. However the decline from September 2014 was a modest 0.26 per cent to an unadjusted benchmark price of $456,300. It follows four months of relative stability. The Calgary Real Estate Board’s chief economist Ann-Marie Lurie explained: “Overall sales activity relative to new listings caused a softening in absorption rates, which resulted in inventory gains and ultimately placed moderate downward pressure on pricing.” For apartments the benchmark was down to $290,600, 2.7 per cent lower than a year ago and 1.19 per cent lower than August 2015.
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