We hope you enjoy this fancy new infographic we created to give you a quick view of what is happening in the Calgary real estate market.
I am sure you are aware that there are many negative stories being written about the effects of low oil prices on our home prices. It seems that not a day can go by without seeing an article about how Calgary is going to drag down the rest of the country and how many jobs are going to be lost in the oil patch. We have seen this more than once before – most recently in the recession of 2008. We weathered that storm and we will certainly get through this one.
As you can see by the statistics sales are down and there are a lot of new listings coming on the market, but it is normal for more listing to come on when spring approaches. This is certainly good for buyers as they have a lot more to choose from and there is downward pressure on prices.
No one knows how long oil prices will stay low, but lets not forget how low mortgage rates are right now.
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