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High inventory, cooling sales put pressure on house prices

Posted by Arshad Rashed on Thursday, August 26th, 2010 at 1:35pm.

A high inventory of homes for sale combined with a softening demand from potential homebuyers is starting to put downward pressure on Calgary MLS prices

"We have almost the same number of buyers that we had in December but we have so many more listings," said Gary MacLean, a realtor with Re/Max Real Estate Central. "It's like having a Safeway that got two times as big but only has the same number of customers coming in the door and in order to get rid of the inventory they have to reduce the prices.  

Hidden Valley is a community of Calgary, Alberta.  We specialize in Hidden Valley Real Estate . If you have any questions about the Hidden Valley real estate market, or Calgary Real Estate market, Hidden Valley homes for sale, or would like a free market evaluation of your home. Call the Jeff Campbell Team now 403-816-4449 or visit your Hidden Valley Real Estate experts!

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