Calgary home sales fall in June but still above long-term trends: board

Despite the decrease in sales, the Calgary Real Estate Board says activity was still 17 per cent higher than long-term trends for the month.

The Calgary Real Estate Board says June home sales fell 12.8 per cent from last year as 2,738 properties changed hands, driven by declines in lower-priced homes. The Calgary skyline including the Saddledome is shown on Friday, Sept. 15, 2017. THE CANADIAN PRESS/Jeff McIntosh

The Calgary Real Estate Board says June home sales fell 12.8 per cent from last year as 2,738 properties changed hands, driven by declines in lower-priced homes.

Despite the decrease in sales, the board says activity was still 17 per cent higher than long-term trends for the month.

The benchmark price across all home types was $608,000 for June — up 8.5 per cent from a year earlier and roughly 0.4 per cent higher than May.

New listings fell 3.6 per cent year-over-year to 3,798 and there were 3,787 units in inventory, 9.2 per cent higher than last year.

Ann-Marie Lurie, chief economist at CREB, says inventory in the lower price ranges of each property type continue to fall, “providing limited choices for potential purchasers looking for more affordable product.”

She also notes that Calgary continues to be a competitive market for some buyers, with more than 40 per cent of the homes sold in June selling over the listed price.

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