Tag Archive | "Calgary"

Calgary is set to Become Canada’s Strongest Housing Market

While Toronto and Vancouver have received all of the attention as of late, neither one is expected to be the nation’s strongest housing market in the next year. Instead, Calgary will likely take that title.

Calgary was at one point the hottest residential real estate market in Canada. However, it lost that distinction in 2008 after oil prices dropped significantly.

During the month of April, Calgary posted the highest year-over-year growth in sales. The city experienced a jump of over thirty percent in sales in comparison to the numbers from last year.

Prices are still down for the time being. That will likely change, though, as inventory supply is rapidly shrinking. Residential real estate prices in Calgary increased less than one percent during the month of April.

Although cities like Toronto and Vancouver have received all the attention as of late, the residential real estate market in those two cities did not post numbers that were nearly equivalent to those seen in Calgary. In fact, sales are actually down by more than thirteen percent in Vancouver. In Toronto, sales are still increasing, but at a much slower pace. They rose roughly three percent in the past month and fourteen percent in the past year.

Housing prices in Canada rose overall, as other major cities also enjoy slight increases in comparison to where they were last year. Cities like Montreal, Winnipeg, and Edmonton all posted increases. Economists expect that the housing market in Canada will remain relatively flat and stable in the coming months, though Calgary will continue to post strong numbers.

Posted in InternationalComments (0)

Calgary Housing Market Looking for a Boost in 2012

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.

Posted in InternationalComments (0)


Twitter Chat