Calgary Resale Housing Market in Balanced Territory

Calgary’s resale housing market is in balanced territory, according to the Conference Board of Canada.

In a report released Friday, the board said the sales-to-new listings ratio in Calgary was 0.717 in September.

It said the seasonally-adjusted annual rate of MLS sales in the city was 34,752, down 2.3 per cent from the previous month but a hike of 8.6 per cent year-over-year.

The annual rate of new listings at 47,676 was down seven per cent month-over-month but up 11.4 per cent year-over-year.

In September, the board said the average sale price in Calgary of $466,425 represented a 0.5 per cent monthly gain and a 6.2 per cent annual gain.

The report also forecast that short-term year-over-year price growth in Calgary would be in the five per cent to 6.9 per cent range.

Calgary’s unemployment rate is the lowest of Canada’s major cities by a significant margin and people are moving to the city not only for the immediate job opportunities, but because they believe in the city’s long-term potential and lifestyle.

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