Calgary’s Real Estate Market #1 in Canada
Calgary’s resale housing market shows no signs of slowing down despite the national drop. According to the Canadian Real Estate Association (CREB), Calgary had the highest rate of sales growth in Canada in October.
CREB stated in their monthly MLS data release on Thursday that Calgary’s resale number has rose by 26.7 percent which was over 2,000 transactions where national sales have decreased by 0.8 percent. BMO Capital Markets economist Robert Kavcic supports the increase stating “strong population and income growth are supporting demand” in Calgary. Kavcic says due to the high demand, “This has helped draw the excess supply built up during the prior boom – the market is now close to full-scale sellers’ territory.”
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