CALGARY — The Calgary Real Estate Board says May home sales fell 0.8 per cent from last year as 3,092 properties changed hands, driven by declines in lower...
CALGARY — The Calgary Real Estate Board says May home sales fell 0.8 per cent from last year as 3,092 properties changed hands, driven by declines in lower-priced detached and semi-detached homes.
New listings rose 18.7 per cent year-over-year to 4,333 and there were 3,402 units in inventory, 5.9 per cent higher than last year. If buying a home is an inexorable part of the American dream, so is the next step: eventually selling that home and using the equity to trade up to something bigger. But over the past two years, this upward mobility has stalled as buyers and sellers have been pummeled by three colliding forces: the highest borrowing rates in nearly two decades, a crippling shortage of inventory, and a surge in home prices to a median of $434,000, the highest on record, according to Redfin.
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