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Calgary Real Estate Blog

Real Estate Boom in Calgary

According to the Canada Mortgage and Housing Corporation (CMHC), the Calgary housing market is expected to enjoy extensive growth this year. Not only is CMHC predicting an increase in the construction of new homes, but the average home price is expected to go up as the red-hot economy continues to grow.

In its recent forecast, the CMHC predicted a 24.8% increase in the number of homes to be built in 2012. While 9,292 units were constructed in 2011, the CMHC predicts 11,600 units will be constructed in 2012. Apartment-style housing is expected to experience the largest gains in terms of new construction. In terms of new single detached houses, the number built in 2011 equaled 5,084. For 2012, experts predict 5,700 new single detached houses will be built. The following year, these figures increase to 5,900. 4,208 new multi-residential...

Calgary Real Estate May 2012 Monthly Housing Statistics

CREB stats for May have been released and things are looking promising for the City of Calgary. Thanks to the city's long-term economic prospects, which have been bolstered by continued fulltime job growth and low interest rates, residential sales increased by 31.8 percent when compared to last year. With a total of 2,385 sales, May 2012 represents the highest May activity the city has experienced since the recession hit.

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