INFOGRAPHICS: July 2019 CREB City And Region Market Reports

Ready for August? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

According to their latest release, it appears that sales have been improving, while at the same time inventory has seen a decline for fourth month in a row within the CREB housing market. The downward inventory count is due to the combination of improving sales and a decline in new listings.

The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to support more balanced conditions.

As noted by CREB chief economist Ann-Marie Lurie,

“We are starting to see reductions in supply across the resale, rental and new-home markets.

“This adjustment in supply to the lower levels of demand will support more balanced conditions. It is starting to support more stability in prices. If this continues, the housing market should be better positioned for recovery as we move into 2020.”

Year-to-date sales activity remains just below last year’s levels and well below longer-term averages. With less oversupply in the market, prices are showing some signs of stability on a monthly basis. This is causing the rate of price decline to ease on a year-over-year basis. Overall, year-to-date benchmark prices remain over four per cent below last year’s levels.

The following data is a comparison between July 2018 and July 2019 numbers, and is current as of August 2019. 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! 🙂 )