A report by the Conference Board of Canada says short-term, year-over-year price change expectations are “falling” for housing markets Edmonton, Calgary, Saskatoon and Regina.
The board’s Metropolitan Resale Snapshot for May, released on Thursday, said Calgary’s annual rate of sales of 18,564 is down 26.3 per cent from a year ago while Edmonton’s has fallen by 4.3 per cent to 18,036.
In terms of listings, the annual rate in Calgary has risen by 5.3 per cent from a year ago to 47,160 while for Edmonton it’s up 9.6 per cent to 40,920.
Prices dropped in May in both Calgary and Edmonton from last year – by 1.7 per cent in Calgary to $461,375 and by three per cent in Edmonton to $368,567.
Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
The views, opinions and positions expressed by columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.