Despite the decline in sales for the first six months of this year, "on a month-over-month basis sales have increased in Calgary in the last two months," said Gregory Klump, the real estate association's chief economistLooking at the data sales have increased in Calgary from Mike's Stats:
Month SFH Condo Total
March - 1418 - 565 - 1983
April - 1363 - 581 - 1944
May - 1368 - 577 - 1945
June - 1439 - 556 - 1995
So one more property sold in May than April. Then forty more in June. How would Gregory Klump, CREA chief economist, interpret this?
But Klump said the trend has been for increasing sales in Calgary on a monthly basis.How is it clear Calgary prices have stabilized?!? From Mike's Stats
"It's clear looking at the data that I'm looking at, that in terms of the prices, they've stabilized," he said. "Anyone expecting a continued decline in average price will be surprised and disappointed."
Month SFH Condo (000s)
March - 420 - 293
April - 420 - 290
May - 419 - 285
June - 408 - 293
Words stabilize, and balance seems to come up frequently now. Remember when the CREB said sales were stable in January? What makes Gregory an expert worthy of a print space? He did not anticipate any price decrease so how can he be so bold now? What did Gregory say April 2007?
Dear potential home buyers - Mr. Gregory is not your friend.
"The resale housing market continues to be a story that features the West and the rest," said CREA chief economist Gregory Klump.
"Tight markets make for sizeable price gains, and nowhere is that more true than in Calgary, Edmonton and Saskatoon, where year-over-year increases remain lofty. In keeping with that trend, CREA forecasts that price increases in 2007 and 2008 will be biggest in the Prairie Provinces and British Columbia."