“If you look at the total number of sales, there are still way more occurring in the detached side of the market,” says Ann-Marie Lurie, chief economist with the Calgary Real Estate Board.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
With interest rates on many mortgages now at least 400 basis points higher than last spring, fewer first-time buyers are able to make the leap to single-family detached homes, often the first choice in the Calgary market. In March, CREB numbers show that apartment sales fell 11 per cent year over year, the lowest among all segments, while the benchmark price climbed 11 per cent, the highest increase among all segments.