Real estate markets in Calgary and Houston are different on several fronts, even though energy indsutry drives both economies.

(Source: Calgary Herald)

Major Canadian and American cities with similar economies and geographies are experiencing variable price trends this spring, according to a survey released today by Century 21 Canada.

In a comparison between Calgary and Houston, the house price survey said price levels are significantly higher and selling times are shorter in Calgary than in Houston but Calgary also has greater price declines than Houston.

The report said average prices in March were $380,737 in Calgary compared with $200,233 in Houston. Median prices in March were $340,500 in Calgary compared with $130,000 in Houston. Calgary’s average and median prices declined 11 per cent and 12 per cent respectively, while Houston’s average and median prices declined four per cent and six per cent respectively from a year ago.

Read Mario Toneguzzi’s full article “Real estate markets differ though economies similar for Calgary and Houston” in the Calgary Herald (May 5, 2009).

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