(Source: 660 News)

The local real estate market has enjoyed a big turnaround this year.

Sales and prices nose-dived at the start of 2009, as the impact of the recession was being felt around the world.

Fred Ketchen with Scotia Capital tells 660News when spring arrived, many people realized the economic downturn in Canada was not nearly as bad as the one south of the border.

Ketchen says people started to take advantage of both reduced house prices and low interest rates and returned to the market.

Re/Max estimates by the end of the year MLS sales will reach 26 thousand up 12 percent from 2008.

Read Kevin Usselman’s full article “Calgary’s real estate market ends year on strong note” in 660 News (December 30, 2009)

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