Calgary sees rising supply and prices, seller’s market persists

The Calgary Real Estate Board (CREB) released its Q2 2024 housing market report showing a seller's market with sales-to-new listings below 80% for the first time since Q1 2023. Sales slowed by three per cent in the second quarter, mainly due to lower-priced properties. Home prices have risen by 10% this year, with row properties seeing the biggest gain at 19%. CREB predicts increased supply from the new home sector will support a better-supplied market and reduce pressure on home prices, slowing price growth in the second half of the year.