Calgary Real Estate Market
Stays the Course
Sales activity trending towards long-term stability
Calgary, July 3, 2012 – Residential sales in the City of Calgary totaled 11,752 for the first half of this year, a 16-per-cent increase over the same period last year. The rise in sales has brought activity levels closer to long-term trends in the city.
“Recent mortgage rule changes may dampen some of the gains in the resale market,” says Ann-Marie Lurie, CREB®’s chief economist. “But this is not expected to cause a full reversal of either sales or price growth, provided the global economic situation does not significantly worsen.
“Our housing market is returning to normal levels of activity, supported by the improvements in our employment sector and rise in migration.”
Single family monthly sales reached 1,609 units in June, a decline over the previous month, but 16 per cent higher than levels recorded in June 2011. However, new...