The Calgary Real Estate Board reported a 13.8 percent increase in home sales in December 2023 compared to December 2022. Despite a drop in condominium sales, detached, semi-detached and row homes saw an increase in sales, leading to an overall rise in demand expected to persist in 2024.
RELATED VIDEO : The Calgary Real Estate Board says home sales in December saw a 13.8 per cent increase compared to the same month in 2022. As Ina Sidhu reports, demand is expected to stay strong in 2024. – Jan 2, 2024were similar to last year’s levels, as supply gains led to increased sales in detached, semi-detached and row homes on a year-over-year basis, despite fewer condominium sales.
The board says 1,797 homes changed hands last month, which was 0.8 per cent higher than November 2023 but still around 20 per cent above long-term trends. On a month-over-month basis, home sales were down 17.3 per cent from October levels, reflecting a typical drop-off in activity for this time of year.
The benchmark price across all home types was $587,900 for November, around 0.8 per cent lower than the previous month but 3.5 per cent higher than November 2023.For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.Story continues below advertisement
Ann-Marie Lurie, chief economist at CREB, says Calgary has experienced a housing supply challenge in recent years due to its sudden population bump, but rising new home construction “has bolstered supply in rental, new home and resales ownership markets.”Is Canada’s housing market perking up after interest rate cut?Calgary police, tow trucks descend on Moraine Road NE, remove RVs
CALGARY REAL ESTATE HOME SALES DECEMBER 2023 INCREASE DEMAND 2024 PERSPECTIVE
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