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

Calgary Real Estate Board reveals a 12.8% decrease in home sales in June compared to the previous year, with 2,738 properties sold, mostly lower-priced homes. Nevertheless, activity is still 17% above the long-term average. The benchmark price in June was $608,000, an 8.5% increase from last year. New listings fell by 3.6% while inventory increased by 9.2%. Limited inventory in lower price ranges restricts buyers seeking affordability. Over 40% of homes sold in June exceeded the listed price, suggesting a competitive market.