The geese are heading south for the winter and the weather is starting to turn but Calgary real estate is holding its own against the weather and reporting sales figures that are much higher than national statistics. Calgary is proving itself to be in the city that never quits when it comes to real estate and this September has been able to prove that with numbers that never lie
Calgary is one of the only cities in the country to report a climb in sales for MLS® transactions for the month of September when compared to last year's numbers. Most other cities across the nation noted declining sales rates for the month. While Calgary had an average of 14.8% more sales, the Canadian average dropped by 15.1% on a year-to-year basis.
Is Calgary the strongest city in Canada right now? If you're going to judge it by real estate statistics the answer would be a resounding yes. Other housing markets are feeling the effects of the new mortgage rules that came into effect in June, which makes qualifying for a new mortgage more difficult for new buyers.
Some major economists in the country feel that inflated prices for homes in Vancouver and Toronto have also contributed to the national trend with people being more cautious about diving into the market. As well, global economic conditions may also be having a small effect on these downtrending statistics nationally.
These figures only go to show that real estate is local since Calgary has not been affected in the same way as many other major markets in the country. Calgary's economic forecast looks great with more job opportunities and higher wages leaving people in the city feeling stable and secure about the future and willing to invest in their own future through a home or condo purchase.--
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
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