Gradual recovery for Calgary housing market

There was a slight improvement in home sales in Calgary in June and prices were stable despite increased inventory.

Calgary Real Estate Board says that year-to-date sales of 10,332 were up 12 per cent from a year ago and detached home sales in June were up 13 per cent from June 2016.

City wide benchmark prices totaled $441,500, up 0.5 per cent month-over-month and 1 per cent year-over-year despite an 11 per cent annual jump in inventory to 6,659 units.

“The supply gain this month will be monitored. However, on a quarterly basis, inventory levels remain comparable to last year, sales have improved and there have been modest price gains. All of this remains consistent with expectations of a gradual recovery,” said CREB® chief economist Ann-Marie Lurie.

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