Calgary Housing Inventory At Lowest Level In Years

The new year began with 1,267 fewer homes on the Calgary market than the previous year and the lowest December month-end inventory since at least 2006.    That’s a -31.8% reduction year-over-year spread remarkably even across all three market segments:

  • Single family homes: -31.3%
  • Condo-apartments: -31.3%
  • Condo-townhomes: -35.3%
(click to enlarge image)

(click to enlarge image)

Early this month we’ve seen the amount of new listings rise from last January – but that is negated by the even larger increase of sales. We’ll have a more accurate picture in a couple days when I have the first week of January update posted.

(click to enlarge image)

(click to enlarge image)

2 responses to “Calgary Housing Inventory At Lowest Level In Years

  1. Looks like some of the possible sellers might be holding back, trying to ride out the storm.

    The “storm” of recovering sales and prices?
    -Mike Fotiou

  2. City council isn’t helping with the housing shortage:

    “City council spent most of 2012 dithering about area structure plan approvals, while trying to figure out the exact definitions of future growth as laid out in the Municipal Development Plan (MDP).

    Throw in personal opinions and agendas from councillors and the end result is a shortage of land that will have severe consequences for the industry and home buyers.

    “This puts land in fewer hands, that causes decreased competition, thereby reducing customer choice and eroding affordability,” says Deep Shergill, president and owner of Prominent Homes.

    Point the finger at the MDP and the GMF for adding to the red tape at City Hall — red tape that was apparently going to go away, but like other promises, hasn’t happened.”

    Read the entire article in the Calgary Sun here

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