Ann-Marie Lurie and CREB

Calgary: The average price of a home in Calgary has also dipped from about $475,000 last year to about $466,000 this year — or by two per cent, CREB says, according to CBC. Weak economy to continue trend CREB chief economist Ann-Marie Lurie says the real estate market in Calgary is not expected to improve anytime soon because of weak energy prices and the local job market. "There should be some further downward pressure on the housing market. Veteran Calgary real estate agent Gary Cronin says he not surprised by the numbers. "In the last 60 days in particular it was a real quiet Calgary resale market, with transactions down about 30 per cent and starting to see some price pressure, especially in the higher categories," he said. Ultimately the amount of pressure there'll be on prices will depend when the energy sector does recover," she said. Homes priced under $500,000 are still selling relatively well. Lurie says the current real estate dip may last longer than previous lulls, but she says the numbers were worse in 2009. (news.financializer.com). As reported in the news.