Housing market tightens in Calgary
Posted Apr 2, 2013 11:43 am.
This article is more than 5 years old.
It’s not the home buying frenzy seen a few years back, but there are less ‘for sale’ signs up in front of Calgary homes.
March inventory numbers were the lowest in five years and CREB says that means people are taking less time to decide to buy.
“Less resale product available to consumers is ultimately limiting sales growth,” said CREB President Becky Walters. “In addition, resale homes are selling in less time and with continued upward pressure on prices.”
She says people have become accustomed to taking their time looking for a house to buy, but since the market has tightened the decision making process has been cut short.
“While market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007, there has been a noticeable change over what became the norm over the past few years.” Walters adds.
