As of February 2nd, pending sales for single family homes in Metro-Calgary were down -33% from a year ago and down -19.5% from 2010. Condo pending sales were fairing slightly better -30% y/y.
The question is: how much can be attributed to the CREB’s rule change implemented late December? Or are we currently just in a slower market compared to last year? A combination of both? We’ll have a better notion when we check back for the Feb 1-7 market update and look at the sales figures.