Calgary’s housing market continued to show signs of stability in April. With improvements in the labour market and a balanced detached sector, city-wide benchmark prices reached $439,600 in April, similar to the previous month, but 0.90 per cent below last year’s levels. Inventory in certain communities are selling quickly. Buyers who are waiting for housing prices to decrease may be disappointed
With sales up and overall market inventory down, months of supply has already pulled back from elevated levels recorded over the past two years. While activity continues to vary by location and product type, more balanced conditions will help to support overall price stability. We will see a slow increase in home prices in the detached sector for the remainder of 2017 and well into the next few years.