Home sales take another hit in Calgary

Make it 21 straight months of down home sales in Calgary.

According to the Calgary Real Estate Board, overall home sales were down 4.6 per cent in August compared to the same month last year.

Chief Economist Anne-Marie Lurie said condos and apartment prices have been hurt the most.

“Obviously there are differences depending on what part of the city you’re in, but city-wide condos really from the most recent peak to the most recent price levels, the decline’s been by over eight per cent since then,” she said.

She said while the detached home sector has somewhat stabilized, condo supply is still going up quite a bit.

“Supply levels are continuing to rise, we have much more product on the market, and it’s continuing to cause at least monthly price declines in those segments.”

Detached homes are 3.3 per cent below last year.

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