CREB released numbers earlier today that indicate real estate sales activity in Calgary has actually grown since last year. Did the flooding in our city contribute to this growth trend? CREB’s economist, Ann-Marie Lurie, says yes.
“Some of this activity is related to the displaced renters and owners seeking other accommodation.”
“But those consumers already searching for a home may have sped up their purchase decision in response to concerns regarding the impact tight supply levels would have on prices.” – taken from CREB press release
Let’s take a look at the real numbers:
• 2,268 residential units were sold in July, up 17% from last year
• The benchmark price was $414,100 in July
• Total of 1,575 single-family homes were sold in July, up 14% from last year
Right now the market is favouring sellers, supporting price growth as well. If you have any questions about the current market conditions, feel free to contact us, or find us on Twitter: @Len_T_Wong.
