The Calgary Real Estate Board says home sales in the city dropped 17 per cent in May compared with last year as economic uncertainty continues to weigh on the housing market, while new listings and inventory were up.
The board says 2,568 homes were sold in May.
CREB chief economist Ann-Marie Lurie says the recent pullback in sales and a build up of inventory have helped shift the market toward balanced conditions and has taken the pressure off prices.
There were 4,842 new listings on the market last month, up 11.6 per cent from a year earlier, as the city’s inventory reached 6,740 homes for sale — relatively balanced with 2.6 months of supply.
The board says recent inventory gains have created pockets of the market that are struggling with too much supply, while other areas are seeing low levels of inventory compared with demand, causing divergent home prices.
The residential benchmark price was $589,900 last month, marking a nearly three per cent decrease from May 2024 levels.
This report by The Canadian Press was first published June 2, 2025.
The Canadian Press
