Calgary home sales fall 15% in Oct., but on track for record year: real estate board

The Calgary Real Estate Board says the city is on track to record a record year for home sales, even as the number of transactions in October fell 15 per cent from the year before.

The Alberta board says October sales totalled 1,857, while year-to-date sales reached 26,823, a 13 per cent increase from this time last year.

The board's chief economist says the numbers indicate conditions are tight, but not as tight as earlier in the year and not on par with other major Canadian cities, where there has been a significant pullback in demand.

Ann-Marie Lurie suspects Calgary is different because its employment growth, positive migration flows and the strong commodity market are helping offset some of the impacts of inflation.