Wanted: Homes For Sale

Historically, the spring is marked by an influx of housing inventory. While the amount of homes listed has been inching upwards this year, and we’re bound to see more with spring break over and the kids back in school, it is currently far below levels seen in previous years.

City of Calgary inventory is down -13% from last March.  Broken out, year-over-year SFH  listings are down -15%, apartment condo inventory is off -18% and townhome inventory is -4% lower.

(click to enlarge image)

6 responses to “Wanted: Homes For Sale

  1. I am speculating that the drop in inventory levels is being offset by new construction which is having a balancing effect hence we are not seeing a rapid increase in prices.

  2. A drop in inventory tends to go before the rise in prices. When inventories are already low I would expect prices to increase but there is some lag, just as when inventories increase and it takes a while for prices to drop.

    My theory about prices not going up is that the cheaper houses may be selling faster than expensive ones right now – not sure if the data back that up. We’re definitely moving back into a seller’s market though.

  3. Happy days are here again Yahoo! I don’t think so, of course people are still buying but with the coming interests rate hikes in the future it is sending some waves through the industry and flags of caution are being held up all over . Consumer debt is a very big problem in Canada

  4. Does anyone have statistics on new construction. Where might some information be centrally available?

  5. Pat, CMHC has preliminary housing start data available here

  6. Thanks for the link Mike. As suspected, housing starts YTD are way up compared to 2011. Most activity being in the SE and W. The abundant supply of cheap new housing in those areas is probably being a bit of a drag on the rest of the suburbs in Calgary.

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