From the Realtors Association of Edmonton April report:
April sales of all types of residential property through the Multiple Listing Service® were lower than the two previous years at 1,823 units but higher than the more typical years of 2004 and 2005.
It's technically correct by ignoring a few years sales are up. Compared to 2004/2005 they are up 1%.
2008 - 1823
2007 - 2441
2006 - 2026
2005 - 1802
2004 - 1805
Also, consider some choice words from the Realtors Association of Edmonton over the last few months regarding inventory
The current inventory of residential properties is now 7,094 homes. The inventory will decrease through the year but the wide choice of properties will have a dampening effect on prices offsetting increased demand from in-migration and economic growth.Marc Perras,REALTORS Association of Edmonton, Jan 9, 2008
“We predicted that sales would be on par with the last ‘normal’ year that we had in 2005. So far the market is behaving as we anticipated.” The number of available residential properties listed on the MLS® at the end of February was up 12.7% from the previous month at 8,284 properties.
Marc Perras, REALTORS Association of Edmonton, March 4, 2008
"Now is the time to be buying," said Marc Perras, president of the REALTORS® Association of Edmonton. "The selection of available homes is very high and prices will increase by year end as inventory levels drop.
Marc Perras, REALTORS Association of Edmonton, April 3, 2008
Inventory = 9,464
“The Edmonton housing market is stable and buyers and sellers seem to be coming to a realistic view of housing prices,” said Marc Perras, president of the REALTORS® Association of Edmonton. “In this market, with a very high inventory, pricing is a key component of a successful sale.”
Marc Perras, REALTORS Association of Edmonton, May 5, 2008
Inventory = 10,606