Calgary MLS® Listing Inventory Drops

Dec 07/06:  Figures released by CREB (the Calgary Real Estate Board) earlier this week indicated the Calgary housing market continues to be strong, with 2,313 sales recorded in November 2006.

The graph below displays the number of active listings (inventory) as a function of sales vs. time. The red-hot market in the first half of 2006 is clearly visible as the curve approaches a low of just 2 weeks inventory, followed by a softening of the market as listings rose to 7,000 the first week of October (3 months inventory). Continued strong sales coupled with expiries of overpriced listings has the inventory curve trending downwards again. 

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