Home sales in Calgary, Alberta declined 41% in March from a year earlier.
The Calgary Real Estate Board said sales in the city last month totalled 2,432. New listings amounted to 3,318, down 40% from March 2022, while inventory levels stood at 3,233, down 26% from a year ago.
The average price of a house in Calgary was unchanged in March from a year earlier, down a slight 0.39% at $535,743.
The local real estate board said Calgary’s housing market continues to be negatively impacted by higher mortgage rates, and that homeowners remain reluctant to list their house for sale.
The average interest rate charged on a mortgage in Canada is now above 6%, its highest level in more than a decade.
