Figures released earlier this month showed average home prices in Calgarydeclined in the first quarter of 2015, but experts say this drop-off is really just a sign of a normalized housing market.
“The figures showed a normal market,” said Susanita de Diega, an agent with Coldwell Banker in Calgary. “They are comparing this year to last year.
“Last year was a boom year; there was no way we were going to compete with those numbers because you can’t sustain it two years in a row. We were headed for a natural correction anyway.”
The Calgary Real Estate Board’s March figures showed that the first three months of 2015 saw low sales and elevated inventory levels, causing unadjusted benchmark prices to ease by 0.44 per cent, relative to the previous month, for a total average price of $454,300.
But De Diega said the absorption rates in March for detached properties...