this Calgary Real Estate Board The Ministry of Housing and Urban Development said housing sales fell 0.8% in May from the same month last year, with 3,092 properties changing hands, mainly due to a drop in sales of lower-priced detached and semi-detached homes.
Despite the decline in sales, the commission said sales activity for the month was still 34% above the long-term trend.
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The benchmark price for all home types was $605,300 in May, up 9.5% from a year ago and up nearly 1% from April.
New listings increased 18.7% year-over-year to 4,333, and inventory was 3,402, up 5.9% from last year.
Ann-Marie Lurie, chief economist at CREB, said that while the number of new listings for sale increased, most of the growth occurred in the higher price ranges of each property type, supporting sales growth for more expensive homes.
In May, homes were on the market for an average of 19 days, down 20.2% from the same period last year.
© 2024 The Canadian Press
