March Calgary Home Sales Improve

Sales and new listings have improved over the levels reported at the beginning of the year, says the Calgary, AB, Real Estate Board (CREB). As a result, the spread between sales and new listings supported some expected monthly inventory level gains. However, the 3,233 available units reflected the lowest March inventory levels since 2006 and left the months of supply just above one month. While conditions are not as tight as last March, low inventory levels leave purchasers with limited choice, once again driving up home prices. March recorded 3,318 new listings compared to the 2,432 sales, leaving the sales-to-new listings ratio relatively high at 73 per cent. However, both sales and new listings have eased by 40 per cent compared to levels reported last March.