Calgary’s low housing demand is expected to persist through to the end of 2015, according to the Calgary Real Estate Board's mid-year forecast for 2015.
Across all housing types, January sales were 35 per cent lower than the 10 year average in Calgary, Alta., due to weakened economic conditions and a resulting lack of consumer confidence. At the same time, new listings rose 39 per cent, year-over-year, greatly impacting inventory levels.
Despite a year-over-year decline in residential sales for the month of December, Calgary’s condominium apartment and townhouse sectors set records in 2014. A total of 4,742 condominium sales took place in the region in 2014, an 18 per cent increase from 2013.