Things just keep getting better for Calgarians. While many regions around the country experienced declines in home sales in September, Calgary saw the highest annual growth in the country. According to the Canadian Real Estate Association, the MLS sales in Calgary went up 14.8 per cent year-over-year, reaching 2,054 transactions.
This is significant when one considers that sales across the country fell by 15.1 per cent. Nationally, the average Canadian home price rose 1.1 per cent to $355, 777, but in Calgary it saw a dip of 0.9 per cent to $402,756.
In an article in the Calgary Herald, Richard Cho, senior market analyst in Calgary for the CMHC said that, “Economic growth in Calgary has been stronger compared to many other regions in the country. Thus far in 2012, employment in Calgary was up over 3.5 per cent while the Canadian average is at about one per cent. Provincial migration to Alberta has also been robust with net gains from nearly every region in the country. Many of the factors that support housing demand have grown in Calgary and have outperformed many other areas in Canada.”