According to statistics released by CREB earlier this week, 2012 ended on a high note, with residential sales up 15 per cent from 2011. CREB says that the energy sector, in conjunction with migration and employment growth, has fueled the housing market and it’s finally starting to recover.
The numbers:
• Single-family benchmark price was $434,800, up 8.7 per cent
• Condominium benchmark price was $248,700, up 5.4 per cent
• Condominium apartment sales rose 12 per cent
• Condominium townhouse sales rose 16 per cent
CREB’s Chief Economist, Ann-Marie Lurie said in a press release:
“Calgary’s 2013 housing sector growth will ease both in terms of sales and price growth, differing from the declines expected on a national level,” Lurie said.
Calgary’s housing market did not recover at the same pace as other Canadian centres, and 2012 was the first time resale sales returned to more normal levels of activity, she said.
