After another record breaking month for residential real estate sales in April, there are signs of the market coming back down to earth. Sales volumes for the first 2 weeks of May are down 14% from the first two weeks of April. The number of homes selling for list price or higher has gone from 66% in April to 50% for the first two weeks of May. There is talk of an interest rate hike of .5% June 1st which will add some summer ice to our red hot market. House price gains should start to level out in June. On average, Calgary is up 33+% over pre-covid levels.