Supply trends up but market still favours the seller

Calgary’s housing market is showing few signs of letting up, as sales reached 2,915 units in June – a record high for the month.

“It is taking time for supply to catch up with the demand in the market,” said CREB® chief economist Ann-Marie Lurie.

“Through the early spring market, many buyers did not have a lot of choice, but the recent improvements in supply are providing more options for those purchasers and supporting the strong sales we continue to see in June. At the same time, gains in inventory are taking some pressure off the market as it starts to trend towards more balanced conditions.”

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The following data is a comparison between June 2020 and June 2021 numbers, and is current...

May 2021: inventory rises, but sellers’ market conditions persist

With 2,989 sales, housing market activity hit a new May record.

Despite strong levels of sales, they did trend down relative to last month. Additionally, there were 4,562 new listings, causing seasonally adjusted inventory levels to increase over last month.

“The recent gains in prices have encouraged more homeowners to list their homes and take advantage of the current market situation,” said CREB® chief economist Ann-Marie Lurie.

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The following data is a comparison between May 2020 and May 2021 numbers, and is current as of June 2021. For last month’s numbers, check out our previous infographic.

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Demand for homes remains high with record sales this month

There were 3,209 sales in April, a new record high for the month, as Calgary’s housing market continues to bounce back from the pandemic lows recorded in 2020.

“Despite entering the third wave of COVID-19, there is more optimism of economic recovery when the economy re-opens,” said CREB® chief economist Ann-Marie Lurie.

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The following data is a comparison between April 2020 and April 2021 numbers, and is current as of May 2021. For last month’s numbers, check out our previous infographic.

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Also, for this month, we’re including the CREB Q1 2021 Housing Report that they have recently released!

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Calgary housing market sees best March sales in over a decade

The initial impact of COVID-19 on the housing market began last March.

One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007.

“Low lending rates and improved savings have supported sales activity,” said CREB® chief economist Ann-Marie Lurie.

“However, sales have been somewhat restricted by the lack of listings. This month there was a jump in new listings, contributing to the strong monthly sales.”

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The following data is a comparison between March 2020 and March 2021 numbers, and is current as of April 2021. For last month’s numbers, check out our previous infographic.

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Sellers’ market leads to rising prices

With gains in every price range, residential sales activity in February totalled 1,836 units. This reflects the best February since 2014.

“Despite continued COVID-19 restrictions, housing activity continues to improve. Much of the strong sales activity is expected to be driven by exceptionally low mortgage rates,” said CREB® chief economist Ann-Marie Lurie.

“Confidence is also likely improving as vaccine rollouts are underway. Additionally, some of the worst fears concerning the energy sector are easing with recent gains in energy prices.”

New listings also improved in February, but the gap between new listings and sales narrowed. This is causing the sales-to-new-listings ratio to rise to 65 per cent, keeping the months of...

January 2021: sales activity signals strong start to the year

January sales were the highest they have been for the month since 2014, as housing market momentum from the end of 2020 carried over into the start of 2021.

Sales activity improved across all product types and across all price ranges.

“Discount lending rates are exceptionally low, which is likely attracting all types of buyers back into the market,” said CREB® chief economist Ann-Marie Lurie.

“New listings in the market were also slightly higher than what was available over the past two months, which is providing more options to purchasers.”

Read the full report on the CREB website.

The following data is a comparison between January 2021 and January 2020 numbers, and is current as of February 2021. For last month’s numbers,...

December 2020: Amidst economic challenges, housing market ends 2020 on a high note

With December sales of 1,199, this is the highest December total since 2007.

“Housing demand over the second half of 2020 was far stronger than anticipated and nearly offset the initial impact caused by the shutdowns in spring,” said CREB® chief economist Ann-Marie Lurie.

“Even with the further restrictions imposed in December, it did not have the same negative impact on housing activity like we saw in the earlier part of the year.”

Attractive interest rates, along with prices that remain lower than several years ago, have likely supported some of the recovery in the second half of the year. However, it is important to note that annual sales activity declined by one per cent compared to last year and remains well...

Sales activity remains strong in November.

For the sixth month in a row, sales in the Calgary market recorded a year-over-year gain.

Sales growth over the past several months has been the strongest seen in the past five years, but the activity has not been strong enough to offset the pullbacks from the spring. Year-to-date sales remain over 3% lower than last year’s levels.

New listings continue to slow, reducing inventory in the market. On a year-to-date basis, new listings have eased by nearly 10% and are at the lowest level recorded since 2001. This has reduced the oversupply that has been impacting the market for nearly five years.

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The following data is a comparison between November 2019 and November 2020 numbers, and is current as...

Detached homes drive Calgary sales growth

With strong gains in the detached sector, October sales in the city reached 1,764 units. This is a 23% increase over last year and well above longer-term averages.

The gain in citywide residential sales outpaced the growth in new listings, supporting tighter market conditions and improving prices.

Improving sales over the past four months were not enough to offset the pullbacks in the second quarter, leaving year-to-date sales nearly 6% below last year’s levels.

Read the full report on the CREB website.

The following data is a comparison between October 2019 and October 2020 numbers, and is current as of November 2020. For last month’s numbers, check out our previous infographic.

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September sales activity jumped to 1,702 units, the strongest September total since 2014.

New listings in September improved over last month, but levels remained comparable to the previous year. The increase in sales relative to new listings did prevent any monthly gains in inventory levels, but supply in the market is still down 12 per cent compared to last year.

Read the full report on the CREB website!

The following data is a comparison between September 2019 and September 2020 numbers, and is current as of October 2020. For last month’s numbers, check out our previous infographic.

Or follow this link for all our CREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets,...