Housing Market Déjà Vu in January 2018

By: Leslie. Methot. Real Estate.

Housing Market Déjà Vu in January 2018

Tags: LESLIE METHOT REAL ESTATE, CALGARY REAL ESTATE, RE/MAX REAL ESTATE, REAL ESTATE STATISTICS, STATISTICS, 2018 STATISTICS, JANUARY 2018

With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector.  

Overall January sales totaled 958 units, nearly two per cent above last year and 11 per cent below long-term averages.

"2018 was kicked off with higher rates and the official implementation of the new mortgage requirements. While it is too early to see the impact of these changes, so far, January levels are consistent with what we saw last year," said CREB® chief economist Ann-Marie Lurie.

 

 

 

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