Buyers definitely in the drivers seat in Calgary

Stock photo by Posted Dec 1, 2015 1:10 pm MDT Last Updated Dec 1, 2015 at 1:15 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Buyers definitely in the driver’s seat in Calgary New numbers show more and more for sale signs are going up on properties in the city, which is having a negative impact on real estate prices.The chief economist with the Calgary Real Estate Board said last month sales were down 28 per cent compared to the same period a year ago and off nearly 20 per cent from the ten year average.Ann Marie Lurie said even though more for sale signs are up, they are still below the record high set during the last recession, which was also a buyer’s market.“Our inventory levels are still nowhere near as high as through that 2008, 2009 period,” she explained to 660 NEWS. “That was really the last time we’ve seen conditions really move into that.”As for price declines, Lurie said condo values are off four per cent year over year, while home prices down about one and a half per cent.Housing market conditions now favour the buyer, says CREB #yycre— CREBNow (@CREBNow) December 1, 2015 read more

Continue reading