The November housing market was spurred by a rise in sales, the combination of improved confidence and pending mortgage rule changes have likely contributed to the stronger sales this month. The last time that sales activity rose to long-term averages for the month was October 2016, when the stress test for high-ratio loans was first announced.
The detached benchmark price for November is $504,000 an increase of 1.02% year-over-year. The apartment benchmark price is $258,300 a decrease of 3.87% and the attached benchmark price is $332,900 an increase of 1.22%. Overall sales for the month totalled 1,411 units, compared with 1,226 during the same period last year.
The City of Calgary home market has 4.01 months of inventory and…