Calgary home sales nosedive as inventory skyrockets by 115%

Calgary home sales dropped 22.3% year-over-year in April, with inventory rising 115.5%, leading to 2.62 months of supply. Economic uncertainty has reduced consumer confidence, balancing the market and easing price pressures. The residential benchmark price slightly decreased to $591,100, while detached and semi-detached homes saw modest price increases. Despite challenges, sales remain above pre-pandemic levels.