Calgary Real Estate Prices Set to Increase in 2014
The Conference Board of Canada recently reported that home prices for Calgary real estate resale market are expected to increase the most in the short term. According to the report, a forecast of a 7% or higher increase in year-over-year Calgary homes for sale prices is seen for the short term – the best in the entire country.
The board further reported that the annual seasonally-adjusted rate of MLS Calgary sales for the month of September increased by 15.1% from the previous year to 31,896. Listings for Calgary housing likewise increased by 2.9% to 42,696. From the same report, average price of homes for sale rose 8.7% from the previous year.
In 2012, a report from the board stated that Calgary is poised to lead in economic growth over all the other cities in Canada through 2016. Backed by a firm natural resources sector and strong population growth, Calgary's GDP growth rate over the next 4 years is forecast to average at 3.7%.
This year, the board further reported and classified Calgary real estate as a sellers’ market. Mario Lefebvre of the conference board, feels cheerful when he stays in the city, said things are rosy in Calgary.Posted by Ross PAVL on