Home sales in Calgary, Alberta fell nearly 20% in March as economic uncertainty impacts consumer confidence.
According to the Calgary Real Estate Board, a total of 2,159 homes changed hands in March, down 18.8% from the same month in 2024.
The real estate board said there was a slowdown in Calgary home sales across all property types during March.
The sales decline was blamed on uncertainty caused by the threat of U.S. tariffs.
However, the real estate board noted that sales activity last month was stronger than between 2015 and 2020, when Calgary experienced economic hardship and thousands of job losses.
The sales slump came as 4,019 new listings hit the Calgary market in March, up 27% from a year earlier.
The western Canadian city’s inventory of homes for sale reached 5,154 in March, which was more than double the supply available at the same time last year.
The average home price remained stable at $592,500, marking a slight 0.8% month-over-month increase from February and a 0.1% year-over-year increase from March 2024.
The board said rising supply has dampened home prices following steep increases over the last four years.
