Calgary’s housing market saw the biggest year-over-year price growth in the country last month, according to the Canadian Real Estate Association’s MLS Home Price Index.
Nationwide, homes prices rose 2.3 per cent from May 2012 to May 2013, but in Calgary, the increase was an impressive 6.87 per cent.
“We’re back to normal levels of activity,” said Calgary Real Estate Board president Becky Walters. “Last spring was the first time since the recession that we saw more typical levels of sales, and this spring sales recorded further growth.”
Alberta’s most populous city also saw the most sales activity, posting a 8.9 per cent increase in May from a year ago (3,247 transactions compared to 2,982 in May 2012) while the national housing market saw a 2.6 per cent decrease in sales during the same period.
Provincially, sales in Alberta rose 3.2 per cent year-over-year while the average sale price jumped by 2.9 per cent to $385,702.
For a closer look at the national picture, check out our earlier coverage here.
Photo via Andy van der Raadt.