The December 2008 market statistics released by the Calgary Real Estate Board (www.creb.com) show a continued seasonal decline in supply for both the single family and condominium markets. Current supply levels are 14.74% more in single family homes and 21.37% greater in condominiums.

Compared with last year the sales volume for December was down 46-47% resulting in the gap in supply vs. demand shown in the chart. The y-axis lists the number of months of supply based on the level of inventory and current number of sales per month.