The Calgary Real Estate Market
The Calgary housing market continues to show signs of a sustained recovery according to figures released January 3, 2010 by the Calgary Real Estate Board.
”The number of single family homes sold in December 2009 in the city of Calgary was up 78% from the same time a year ago, while condo sales saw an increase of 66% from the same time a year ago.”
“What a difference a year makes. Undoubtedly the recovery in Calgary’s housing market came sooner than expected this past year,” says Bonnie Wegerich, president of CREB®. “Pent up demand by first time buyers, record low mortgage rates and improved affordability have helped bolster the Calgary market in 2009.”
In fact, we are close to seeing a sellers’ market. With continued limited resale home supply and a robust buying public…the pendulum is swinging in favor of sellers which will, more than likely, push prices up.
There are also fears that interest rates are going to rise and this has buyers anxious to lock into more favorable rates now.
With the additional fear that the government may make 10% down payments mandatory and maximum 30 year amortization periods, we may see many buyers pushing their plans forward.
If you are thinking of purchasing a home, moving up or down sizing, now would be a most favorable time to do so and I would love to help you.
Chris Smith
January 20th, 2010 at 3:28 pm #
Thanks for the information. It looks like the markets are beginning to recover, as consumer demand returns. For example, there has been a increase in Calgary homes for sale. This increase in numbers could be attributed to the fact that consumers are beginning regain confidence in the Canadian realty market