For the first time since 2010, the new year will usher in a greater selection of homes for buyers to choose from.
Granted, inventory fell -16% between November and December, but that’s completely attributable to seasonality. Active listings increased 44.5% on an annual basis, or by nearly 1,000 homes compared to a year ago.
However, the y/y increase is exaggerated since December 2013 was a multi-year low for supply, and current inventory remains far below historical highs.
December sales were down -7.51% y/y, and while it’s a warning sign of a slowing market, to make too much of it in a month of seasonally low sales volumes and compared to 2013’s multi-year high would be premature.
The wide-spread consensus is that oil prices will impact Calgary real estate in 2015. But the shift from seller’s to buyer’s market has a phase that many seem to have omitted altogether as a possibility: a balanced market.