News & Events
Calgary market shows no signs of slowing down
Migration to Calgary is continuing at a rapid pace, as the most recent figures from Statistics Canada show. Between July 2012 and July 2013, the increase was 45,168 people. The influx has had a predictable effect on the home market, and the Calgary Real Estate Board announced that supply of homes had dropped dangerously low, to only a 1.3-month supply, in March.
With the home-buying market in turmoil, house-hunters have been eyeing rental opportunities, only to discover a vacancy rate hovering at a measly 1%. This has pushed some towards purchasing instead of renting, even with an average home price hitting $484,918 at the end of March. That 5% increase over 2013 is clearly making the decision a difficult one.