Home sales in Calgary, Alberta declined 15% in October from a year earlier as rising interest
rates continue to pressure the city’s housing market.
However, despite the October sales drop, the Calgary Real Estate Board said the western
Canadian city remains on track to post record sales for the year.
The real estate board said October sales totalled 1,857, while year-to-date sales reached
26,823, a 13% increase from the first 10 months of 2021.
The board added that strong commodity prices this year, especially for oil and natural gas, are
helping offset some of the impacts of inflation and keeping the local housing market buoyant
despite rising mortgage rates.
New listings in Calgary during October totalled 2,175, a 13% decline from the same time last
year. The benchmark home price for the month totaled $523,900, up 10% from a year ago.
