Yes there is a slowdown in the market for residential homes nationally but this type of activity is nowhere to be seen in Calgary. In fact, the opposite is true! Calgary is continuing to keep up a good pace in regards to housing sales and it does not appear as though this will break any time in the near future. Calgary is one of the few cities in Canada that is holding its head above the water and refusing to agree with global trends. Perhaps some other cities in Canada could follow the lead.
Talk of global finances abroad has cast a pall on housing markets in other cities. This, along with the new changes in mortgage rules and in some cases over-valuation of homes, has contributed to this slowdown.
It's not happening here in Calgary!
If you have been keeping up to date on the global economic news it's important to keep the viewpoint that real estate is neither global nor national. It's local. The economic climate of a town or city will establish the real estate environment.
It's clear to see that the economic forecast for Calgary is extremely positive and you can see it for yourself as you travel through the city. New construction may be slowing you down on your daily commute to work but it is also providing a secure and growing environment for you and your family.
Total sales on the city's MLS® so far this October number 1,235, which is up by 21.92% over last year's figures during the same time period. Sales totals for the year-to-date so far are at 18,248, which is a rise of 15.58%.
The numbers are all in order for Calgary and the global financial scene does not have to affect this city. The next time you read the news about global financial trends think of the economic scene locally if you need some cheering up.
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