INFOGRAPHICS: July 2018 CREB City And Region Market Reports
For this month’s market update for areas covered by the Calgary Real Estate Board (CREB), a call for patience as the housing market recovers is the current focus.
As stated in CREB’s latest press release, “Recent struggles in the job market, accompanied by yet another interest rate increase, is piling on to the decisions potential purchasers have to make in the housing market.”
To quote CREB chief economist Ann-Marie Lurie,
“Despite some positive momentum in some aspects of our economy, our job market has continued to struggle as of late, with some easing in total employment levels over the past few months and persistently high unemployment rates.”
“Also, the Bank of Canada raised rates again in July. Rising costs, combined with a slow recovery, are weighing on the demand for resale homes in the city. At the same time supply remains high and is resulting in an oversupplied market.”
July’s numbers indicate that months of oversupply continue to worsen for each property type, and currently range from nearly five months in the detached sector, to seven months in the apartment sector. The apartment ownership sector continues to see the steepest declines.
The following data is a comparison between July 2017 and July 2018 numbers, and is current as of July 1, 2018. For last month’s numbers, check out our previous infographic. Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )