Calgary home prices decline for the second consecutive month
Sales activity remains well below long-term averages in Calgary. Elevated inventory levels in October contributed to a second consecutive month of prices declines in Calgary’s resale residential housing market. Benchmark prices declined 0.7 per cent from the previous month, and 1.2 per cent from the same time last year, to $453,100. “Persistent weakness in the overall economy continued to impact housing demand in Calgary as October sales were nearly 16 per cent below long-term averages,” said CREB® chief economist Ann-Marie Lurie.
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