BuzzBuzzHome Corp.
March 17, 2011

This week the Canadian Real Estate Association reported that the average price of a home in Calgary rose 3 percent this February year-over-year.

The rate of sales rose, too, though more modestly: it was up 0.2 percent.

Both pieces of news are welcome in a market that is starting to get its legs under it again – in hopes of a return to the heady days of a few years ago.

In reporting the figures the Calgary Herald quoted Sano Stante, president of the Calgary Real Estate Board, who said that the local real estate scene is showing signs of laying the groundwork for a sustained recovery:

“We’re just starting to see some job growth in Calgary and a lot more consumer optimism. So we have seen an increase in sales over last year year-to-date but mostly in the lower-priced properties which indicates that first-time buyers are moving into the market which provides us with a base of sustainable growth this year. When first-time buyers come into the market it provides the fuel for sustainable growth for a market comeback and that’s what we’re starting to see.”

We’re pullin’ for ya, Cowtown.

Developments featured in this article

More Like This

Facebook Chatter