Further decline in Calgary housing market

New home prices in Calgary were lower in April than in March, the second consecutive month of decline.

Figures from the Canadian Mortgage and Housing Corporation released Thursday showed that there was a 0.4 per cent drop in the price of new homes and a 0.2 per cent drop in land prices.

The report also says that some builders are cutting prices to stimulate sales while others are finding that they have to sell for less. There are also more builders offering incentives instead of price reductions.

Year-over-year prices in Calgary are up 1.8 per cent, but that is the lowest rise for three years.  

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