by MIKE TARASKO

Posted Aug 31, 2015 7:52 am MDT

There are some signs of stability starting to emerge in Calgary’s re-sale housing market.

According to RBC’s Affordability Index Report, supply and demand leveled off in the 2nd quarter of the year, and consumer confidence also increased.

However, those factors haven’t reflected in prices just yet as they remained under slight downward pressure.

As a result, the Affordability Index, which measures how much of an average Calgarian’s incomes goes to home costs, edged down in Q2 in two of the three categories.

It dropped 0.8 per cent for two story homes to 31.9-per cent, and down 0.4 per cent for bungalows to 32.4 per cent.

Condos bucked the trend however, moving up one tenth of a point to 19.5 per cent.

RBC Economist Craig Wright says it’s the most affordable a home has been in Calgary since the mid-1980s.

There are some signs of stability starting to emerge in Calgary’s re-sale housing market.

According to RBC’s Affordability Index Report, supply and demand leveled off in the 2nd quarter of the year, and consumer confidence also increased.

However, those factors haven’t reflected in prices just yet as they remained under slight downward pressure.

As a result, the Affordability Index, which measures how much of an average Calgarian’s incomes goes to home costs, edged down in Q2 in two of the three categories.

It dropped 0.8 per cent for two story homes to 31.9-per cent, and down 0.4 per cent for bungalows to 32.4 per cent.

Condos bucked the trend however, moving up one tenth of a point to 19.5 per cent.

RBC Economist Craig Wright says it’s the most affordable a home has been in Calgary since the mid-1980s.