Year-over-Year Inventory Comparison
Metro-Calgary SFH inventory has increased over 30% in a month and is quickly closing in on last year’s highest level. Condo inventory is already higher than the same time last year and looks to continue increasing.
In 2009, SFH month-end inventory peaked in March with 4369 (Currently at 4114)
Condo inventory had peaked a month earlier with a February month-end level of 2065 (Currently at 2176)
While nowhere near the peak levels experienced in 2008, this inventory increase is good news for buyers that have had limited selection throughout the last half of 2009. Sellers have to deal with increased competition and should be carefully monitoring the next several months. With increasing rates and tighter lending standards beginning mid-April, the buyer pool will be decreasing in the near future. Will it be enough to temper the Calgary housing market? Or will the impending changes result in a surge of sales and prices in the short-term?