(Calgary SFH Inventory data also below)
Canadian home prices in February edged up 0.1% from the previous month, according to the Teranet–National Bank National Composite House Price Index™. It was the third consecutive monthly rise, following on three consecutive monthly declines. Year-over-year, prices were up 3.8%.
Calgary prices were down 3.4% from a year earlier, for a fifth consecutive month of 12-month deflation. Calgary is the only city tracked by the Index that is showing annual declines. It was also the city to record the largest month-over-month drop: -0.5%.
(click to enlarge) Source: housepriceindex.ca
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Calgary Single Family Housing Inventory
A quick look at SFH inventory in Calgary shows us that while it’s following 2010′s trend of increasing during the spring months, it’s not increasing nearly as swiftly.
As of April 26th, inventory is down over 11% year-over-year.
SFH Inventory (click to enlarge)
The amount of new listings coming on the market is averaging between 2009-2010′s levels.
(click to enlarge) New Listings
Between April 1-20, 2011 there were 1567 new listings added compared to 2023 during the same time period last year – a 22% drop.
Looks like home buyer’s stike going on like in Australia…
http://www.facebook.com/home.php#!/pages/Canada-home-buyers-boycott-now/203937936304340
With this campaign, organisers will have full potential of reaching literally thousands of high school students and unemployed university graduates currenlty living in their parents basements (who else is checking their Facebook accounts on the hourly basis), who are clearly upset about high real estate prices. And it’s easy to see why they would be upset, without ability to buy a house as soon as they out of high school or a college they would have to wait until somebody’s parents go on vacation before they can party!!!
P.S. If that campaign will not achieve desired results, I recommend sending groups of young people with baseball bats to persuade homeowner to lower their prices.
LOL…
Its true , its not effective in Canada and it won’t be.
Actually in Australia the media picked up the story and real estate sales and prices has actually started to crash. Maybe not the only reason but surely one of the reason .
Housing Prices Expected to “Firm” – Economy Seen As Strengthening
April 29, 2011 – Calgary Herald
Report Says Calgary Housing Market A ‘Bust’
April 28, 2011 – Calgary Herald