The number of single-family resale homes changing hands in Calgary this month has climbed over the 1,200 mark -- pretty typical of this time of the year, say industry expertsHowever from Mikes Stats, there have been 934 SFH sales between Feb 1-22. The article appears to be discussing the same area as these stats as it mentioned inventory over 4700 while Mikes stats show 4794.
By the end of this month sales will most likely exceed 1200 (1231 at current rate) and it is technically true that passing 1200 is 'typical'. However in previous years it was typical to pass much higher numbers as well, such as 1800 and 1900. Sales are down considerably even compared to long term trends and there is nothing typical about that type of slowdown. However reading the rest of the article does not give one the impression that sales are weak. Actually it does the opposite.
Jensen says the industry experienced a slower market toward the end of December -- which wasn't unexpected because of the holiday season -- but January was a solid one for activity.January sales were down 28% YOY and February may be down 35%. To me that does not appear to be a continuation of 'solid activity', although I do see a pattern.
He expects February to be a continuation of that pattern.
Previous Year Sales from Bob Truman's site. **Estimated due to change in criteria.
2006 Feb: 1804**
2007 Feb: 1942
2008 Feb 1-22 : 934 (Projected total 1231 at current sales rate)
And from What's New
Feb 21Is it funny or sad that the article quotes the president of the Calgary Real Estate Boar, another REALTOR and shows an ad for REALTORs?
Feb sales are down 17% from the 7-year average.