Prices rise as conditions favour the seller
While conditions are not as tight as last March, low inventory levels leave purchasers with limited choice, once again driving up home prices.
“As expected, sales have eased from record levels while remaining stronger than they were before the pandemic thanks to recent gains in migration supporting demand,” said CREB® Chief Economist Ann-Marie Lurie.
“The challenge has been centered around supply. As a result, existing homeowners may be reluctant to list as they struggle to find an acceptable housing alternative in this market. At the same time, higher lending rates can also reduce the incentives for existing homeowners to list their home.”
Take a look at March Housing stats, as well as things to do around Calgary this month!