Stable prices in detached sector signal balanced conditions despite increased inventory
Calgary, July 4, 2017 - Calgary's housing market in June saw a modest improvement in sales along with an increase in new listings.
However, demand gains have not kept pace with the amount of new listings coming onto the market. This caused inventory levels to increase to 6,659 units, which is 11 per cent higher than last year's levels.
Despite the recent shift in inventory this month, second quarter activity continues to demonstrate improved supply-demand balance and price stability. City wide benchmark prices totaled $441,500 in June. This is a 0.5 per cent gain over last month and nearly one per cent higher than last year.
"The supply gain this month…