Detached prices stabilize as city-wide inventory trends down
After a long period of disconnect between supply and demand, Calgary's detached housing sector is firmly in balanced territory. Sales were still 10 per cent below long-term trends in March, but above levels seen in recent years, while average inventory declined compared to last year, supporting price stability in the detached market.
"It's not so much that demand went through the roof in March, but that we had less supply come onto the market, which is really helping to balance things out," said CREB® president David P. Brown. "These changes are lifting the cloud of uncertainty for housing consumers and nicely positioning our market as we move into the more active spring season."