Back on November 25 I made a post (“So You Want To Time The Market”) where I pointed out that the market seemed to have turned a bit in the previous week. It turned out to be wishful thinking (for my sellers) and just a blip in the weekly numbers as December was extremely slow for home sales in Calgary. But since I am glutton for punishment I am back again to point out that the absorption rate has again turned in the last week.

Is this really the bottom? Well it may be for absorption rate, but I don’t think it is for prices. As long as the absorption rate is higher than the number of months that the average seller considers acceptable to have their home on the market (maybe 4 months?) then prices will fall.

calgary housing inventory turnover
Click chart to enlarge