CALGARY – Home sales in the City of Calgary were 13.4 per cent lower in November compared with the same month last year as prices also decreased again.

The Calgary Real Estate Board says 1,553 homes sold last month, as the city’s residential benchmark price decreased 4.6 per cent year-over-year to $5559,000.

There were 2,251 new listings on the market in November, down 3.3 per cent from a year earlier.

But the city’s inventory grew 28.2 per cent to 5,581 homes for sale, around 15 per cent higher than typical levels for the month.

The board’s chief economist Ann-Marie Lurie says elevated inventory levels are partially related to additional supply, mostly in higher-density housing units.

That showed up in prices for apartment and row-style homes, which saw year-over-year price decreases

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