Categorized | International

Calgary Housing Market Looking for a Boost in 2012

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Economists are hoping that the city of Calgary will experience a strong boost in performance in 2012 thanks largely due in part to strong market fundamentals. The residential real estate market in the city fell short of expectations in its performance during 2011. The city, which has been considered one of the most affordable in Canada, posted relatively weak numbers despite strong employment numbers and overall consumer confidence.

 

The residential real estate market in Calgary is at its most affordable state in more than five years. With the numbers for job growth and economic performance in the city both on rise, there is hope that the housing market will finally turn the corner and start performing up to expectations.

 

Real estate analysts believe that 2012 could be a very good year in terms of residential real estate market recovery for Calgary. Inventory in the city continues to drop, and with low interest rates available to buyers, prices on the available homes are expected to increase a healthy amount.

 

With that said, some real estate agencies are already reporting positive growth for the months of January and February. As such, many real estate expects believe that the market will continue this improved performance throughout the year. In fact, many realtors are highly anticipating the spring season, as they believe that it is at that time that the market in Calgary could demonstrate some impressive gains.

 

Calgary is one of many major cities facing a similar situation in Canada. However, as supply dwindles, and the affordability rate remains near its record levels, the market in those cities will likely improve in 2012.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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