Calgary home sales remain sluggish

CREBMagnifying glass

The recovery of the housing market in Calgary remains slow to pick up, as data from the Calgary Real Estate Board shows sales in December remained slow.

According to the report, the number of single-family home sales in December was down 18 percent compared to November's figures, and 8 percent below sales from December of last year. At the same time, condominium sales were up slightly compared to November, but still below 2009 levels.

Home prices remained fairly level. The median home price in the city last month was $441,341, down 3 percent from November and 2 percent from a year ago.

"We did see significant improvements in affordability in the Calgary market in 2010 – and I think the message to prospective buyers is that this is a great time to buy if you're looking for good selection, specific locations and price points," said Diane Scott, president of CREB.

So far, however, the local jobs market has failed to provide additional fuel to the recovery. Data from Statistics Canada found that Calgary's unemployment rate remained below the national average in December, but didn't improve during the month.

Comments are closed.