Detached Calgary homes show some hope, other properties weak

The housing market in Calgary continues to be pressured by the weak energy sector and new figures show that disparity between property types. April data from CREB shows that detached home sales increased against new listings, although sales are 4 per cent lower so far in 2016 than they were in 2015. The month of supply moved towards more balanced levels though.

For other home types, the data is less optimistic; apartment sales were down 19 per cent year-over-year; attached home sales dropped 13 per cent from a year earlier.

“From re-considering the listing of their home to lowering expectations on price, sellers are beginning to adjust to the current market reality,” CREB president Cliff Stevenson said. “However, some buyers in the market are still not willing to pull the trigger because they expect even bigger discounts. And so that gap between buyers’ and sellers’ expectations still persists across many product types and locations.”

Benchmark prices in the city declined by 0.4 per cent in the month and 3.4 per cent from last year, to $441,000.

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