December is always the slowest month of the year for home sales in Calgary, followed typically by January. This year is no exception. However, with the downturn in the economy, the collapse in the price of oil, the tightening of credit and buyers' expectations of lower prices in the coming year, sales during the first nine days of December were much lower than for the same period of 07. The stats below are for the city of Calgary and are generated on a weekly basis by the Calgary Real Estate Board.
2008 2007
SINGLE FAMILY HOMES
Sales 155 266
New listings 401 419
Inventory 4890
CONDOMINIUMS
Sales 71 122
New Listings 225 185
Inventory 2512
Activity during the coming weeks will continue to be very slow with Christmas on the way, a major winter storm expected to arrive today and last through the weekend, and my 60th birthday this weekend (this is sure to have a major impact on the amount of work being done, at least by me, for a day or so).
I'm looking out of my office window, across the park behind our home, at a snowy landscape and grey, grey skies. I enjoy feeding the birds in the winter, so filled my eight feeders this morning so that the birds will have something to much on during the storm. Calgary typically get's a cold spell before Christmas, although we often have no snow for Christmas. This weekend it is supposed to drop to -26C, so hopefully this qualifies as the cold snap, to be followed (ideally) by much warmer weather for Christmas.
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