Calgary housing market remains balanced going into winter months

As Calgary braces for the winter months ahead, new data shows that the housing market remains relatively balanced.

Statistics from the Calgary Real Estate Board for November released on Monday, shows typical seasonal trends of slowing in sales, new listings, and inventory levels last month.

The 1,553 home sales were met with 2,251 new listings causing the sale-to-new-listings level ratios to bump 69 per cent.

Although it helped with inventory adjustment, CREB said with 5,581 units in inventory, levels are still 28 per cent higher than last year and over 15 per cent high that typical numbers reported in November.

Chief economist for CREB, Ann-Marie Lurie said the supply levels have been sitting higher than normal for the past three months, mainly due to the gains occurring in the higher