Calgary home sales fall 9% in July as condo oversupply weighs on market
Calgary's real estate board says the slowdown reflects a cooling market where buyers now have more choice and negotiating power than a year ago.
Why it matters
A slower housing market and falling prices can affect homeowners' equity and shift bargaining power toward buyers across Calgary.
Home sales in Calgary dropped nine per cent in July compared with the same month last year, according to the city's real estate board. Prices also declined over the same period.
The board attributed part of the slowdown to what it described as a 'persistent oversupply' of condominiums in the city, which has weighed on both sales activity and pricing in that segment of the market.
The figures point to a broader cooling trend in Calgary's housing market after several years of strong demand and rising prices.
Compiled by the Alberta Daily Desk — an AI-written summary of reporting from the credited sources below, produced and reviewed under our editorial policy.