Skip to main content

January's new listings hit level not seen since the late 90s: Calgary realty board

A stock photo shows a newly-built home in a residential community. (Pexels/Binyamin Mellish) A stock photo shows a newly-built home in a residential community. (Pexels/Binyamin Mellish)
Share

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.

Meanwhile, home sales totalled 1,199 compared with 2,004 in the January prior.

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.

However, the benchmark price of $520,900 was five per cent higher than January 2022.

This report by The Canadian Press was first published Feb. 1, 2023.

CTVNews.ca Top Stories

BREAKING

BREAKING Honda to get up to $5B in govt help for EV battery, assembly plants

Honda is set to build an electric vehicle battery plant next to its Alliston, Ont., assembly plant, which it is retooling to produce fully electric vehicles, all part of a $15-billion project that is expected to include up to $5 billion in public money.

Secret $70M Lotto Max winners break their silence

During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.

Stay Connected