Conditions shift in September, according to CREB®

Housing statistics from September confirm that unbalanced conditions in some areas of Calgary's resale residential market are starting to push the entire sector into buyers' territory, according to CREB®.

Driven by excess inventory in the apartment sector, the overall market's sales-to-new-listings ratio — a key indicator of a buyer's market — declined further in September to 47 per cent, according to the board. That means less than five out of every 10 new listings sold during the month.

In August, the ratio hovered around 60 per cent, which was firmly in balanced conditions, according to CREB® chief economist Ann-Marie Lurie.