Particle.news
Download on the App Store
4 ARTICLES
·
2mo ago

Calgary Housing Market Cools as July Sales Slide and Listings Surge

Persistent trade-tariff uncertainty has cooled buyer interest despite modest price corrections.

The Calgary Real Estate Board says home sales in the city declined 11.6 per cent in July compared with last year as inventory grew to levels not seen since before the pandemic. Calgary's downtown core pictured Thursday, Sept. 2, 2021. THE CANADIAN PRESS/Jeff McIntosh
The Calgary Real Estate Board said there were almost 4,000 new listings on the market in July - inventory levels not seen since before the pandemic.
The Calgary Real Estate Board says the housing sector was affected by fluctuating tariffs, no further reductions in lending rates and added competition from the new home market.

Overview

  • Home sales in July dropped 11.6% from a year earlier to 2,099 units.
  • New listings climbed 8.6% to 3,911, lifting total inventory to 6,917 homes—a 66.1% rise to pre-pandemic levels.
  • The residential benchmark price fell 3.9% year-over-year to $582,900, with apartments and row homes experiencing the largest declines.
  • Detached and semi-detached properties saw smaller price adjustments, preserving much of their cumulative gains from previous years.
  • The Calgary Real Estate Board points to trade-tariff uncertainty, unchanged lending rates and strong new-home competition as drivers of the recent slowdown.