What's up with Calgary's Real Estate Market?Posted by Kirby Cox on
Calgary's Real Estate market continues to be stuck in the doldrums with the sales-to-new-listings ratio hovering around 47.4%. In simpler terms, of the 16,760 homes listed this year, only 7,945 have sold as of September 30th, 2018. This continues to put us firmly in a continued Buyers market with Sellers needing to be very realistic about their home prices.
Part of the slowdown can be attributed to the new mortgage stress test rules that took effect in January. These new rules, that were put in place to curb price appreciation in Toronto and Vancouver, have left Calgary caught in the crossfire. Our economy also continues to struggle with unemployment, pipeline uncertainties as well as increases to minimum wage and its effect on small business owners.…
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