Home sales decline more than 10 per cent in April: CREB
Posted May 2, 2016 4:13 pm.
This article is more than 5 years old.
Home sales in Calgary declined by more than ten percent in April compared to the same month a year ago.
The Calgary Real Estate Board says the imbalance in the market is continuing to weigh on prices with seven straight months of price declines.
CREB president Cliff Stevenson says sellers are starting to lower their price expectations but many buyers are still sitting on the sidelines hoping to get better deals.
Condo sales have seen the biggest hit, down almost 20 per cent year-over-year with the benchmark price down almost eight per cent, compared with around 3.5 per cent for all home types.
The board says inventory levels of condos have not been this high since 2010.
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