April 01, 2021
Persistent sellers’ market conditions contribute to price gains
City of Calgary, April 1, 2021 – The initial impact of COVID-19 on the housing market began last March.
One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007.
“Low lending rates and improved savings have supported sales activity,” said CREB® chief economist Ann-Marie Lurie.
“However, sales have been somewhat restricted by the lack of listings. This month there was a jump in new listings, contributing to the strong monthly sales.”
Inventory levels pushed above 5,400 units, but citywide months of supply fell below two months. This reflects the lowest months of supply for March since 2014 and these tight conditions have contributed to price gains.