Calgary Real Estate Board's Q2 Housing Report
Posted by Billy Peshke on
The Calgary Real Estate Board (CREB®) has released its Q2 2023 Housing Market Report. The report highlights a dynamic real estate landscape in the City of Calgary, showcasing strong trends in sales, demand and pricing.
As expected, sales activity has slowed from last year’s record-breaking pace while staying stronger than long-term trends. What was not expected was the robust demand in the higher price segments of the market despite higher lending rates.
“An influx of migrants coming from Ontario and British Columbia are likely contributing to some of the strength for higher priced properties, as the relative affordability could make migrants less sensitive to the recent gains in lending rates, said CREB® Chief Economist Ann-Marie Lurie. At the…
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Rising rates had little impact on sales this month as the 2,647 sales represented a year-over-year gain of 18 per cent, reflecting the strongest July levels reported on record. The record-setting pace has been driven mainly by significant gains in the relatively affordable apartment condominium sector. Despite recent gains, year-to-date sales have declined by 19 per cent over last year.
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Large Backyard
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