The Calgary Real Estate Board says January's new listings fell to a level not seen since the last 90s as home sales declined 40 per cent from the year before.
The Albertan board says new listings for the month amounted to 1,852, a 25 per cent drop from January 2022.The board attributed the slowdown to higher lending rates that are causing many buyers to seek out lower-priced homes and preventing some from upgrading to other properties.
The average price of a home in the region hit $508,189 in January, a less than one per cent drop from a year ago.This report by The Canadian Press was first published Feb. 1, 2023.
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