December sales eased, but slowing sales over the 2nd half of 2022 were not enough to offset earlier gains as sales reached a record high of 29,672 units in 2022.The pullback in sales was also met with pullback in new listings, causing further declines in inventory levels. As of December, there were 2,214 units available, making it the lowest level of inventory reported for December in over a decade.
Benchmark prices eased to $518,800, down nearly 5% from the peak price in May but almost 8% higher than last December. While prices have trended down annually, they remain over 12% higher than last year’s levels. Overall, the housing market in 2022 generally outperformed expectations both in terms of sales and price growth.
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December 2022 - Calgary Real Estate Market Update