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Calgary's real estate picture continues to diverge from the hot markets in Toronto and Vancouver with a 20th consecutive month of declining home sales in July. (Jonathan Hayward/THE CANADIAN PRESS)
Calgary's real estate picture continues to diverge from the hot markets in Toronto and Vancouver with a 20th consecutive month of declining home sales in July. (Jonathan Hayward/THE CANADIAN PRESS)

What real estate boom? Calgary home sales drop to 1996 levels Add to ...

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Calgary’s housing market is bracing for more pain as persistently weak oil prices, mounting layoffs and slowing population growth continue to keep buyers on the sidelines.

Home resales in the city fell 12.6 per cent in July from the same time last year, the Calgary Real Estate Board reported. It was the 20th consecutive month of annualized sales declines as purchases of detached homes dropped to their lowest level since 1996.

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