Slow December Doesn’t Impact Record 2022 Calgary Home Sales

Although December home sales eased in Calgary, AB, slowing sales over the second half of 2022 were not enough to offset earlier gains as sales reached a record high of 29,672 units in 2022, says the Calgary Real Estate Board (CREB). Over the past several months, the pullback in sales was also met with a significant pullback in new listings, causing further declines in inventory levels. As of December, there were 2,214 units available, making it the lowest level of inventory reported for December in over a decade. The detached market felt most of the impact of higher rates as a pullback in sales in the year’s second half contributed to the year-to-date decline of over seven per cent for the month. Further declines in semi-detached sales contributed to the year-to-date sales decline of nearly three per cent for December. Unlike other property types, apartment condominium sales continued to rise above the previous year’s levels throughout the year. This caused year-to-date sales to rise by 50 per cent to 6,221 units, a new record high.