According to the New Housing Price Index, a 0.6% hike in Calgary is driving the national average to 0.1% growth. In fact, they stated that Calgary has been the top contributor of new home prices nation-wide for the past 9 months, thanks to strong market conditions here.
Prices are up over 6% in Calgary year-over-year, compared to 1.8% across the country. Since last year, prices have been steadily accelerating here in Calgary.
So what’s contributing to this in our city? Experts say it’s a number of factors: market conditions, increased material and labour costs, and a shortage of land supply are all driving up prices here. Our city’s home market, both new and resale, has defied the trends nation-wide for the better part of the year actually.
If you have questions about the market conditions here, or what prices are looking at in a particular area, feel free to contact us anytime.
