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Calgary Real Estate | Calgary Homes for sale
Calgary's April Outlook
Calgary's housing market in March was fuelled by an expected rise in interest rates. MLS single-family home sales up 29 per cent compared with a year ago and condo sales were up by 37 per cent, say’s Calgary Real Estate Board.
Prices for both single-family homes and for condos were the highest monthly averages since June 2008. Average MLS sale prices for single-family homes peaked in July 2007 at $505,920 and for condos in May 2007 at $332,237.
Improved economic conditions, better job outlook, and an unexpected rise in mortgage rates are contributing to a boost in the spring housing market.
I believe that mortgages rates will continue to rise in the upcoming years and that will slow things down slightly. Also Calgary is expecting net in-migration this year which will help to keep housing prices at a normal level.
Demand for home ownership will moderate as mortgage rates rise. This, coupled with improving home values, consumers will see monthly carrying costs move up and that will temper demand for home ownership. The pace of activity will be in line with the primary factors of housing demand such as employment, income growth as well as net migration.
Visit http://www.brentlane.com/ to see all Calgary MLS listings updated daily
Calgary's housing market in March was fuelled by an expected rise in interest rates. MLS single-family home sales up 29 per cent compared with a year ago and condo sales were up by 37 per cent, say’s Calgary Real Estate Board.
Prices for both single-family homes and for condos were the highest monthly averages since June 2008. Average MLS sale prices for single-family homes peaked in July 2007 at $505,920 and for condos in May 2007 at $332,237.
Improved economic conditions, better job outlook, and an unexpected rise in mortgage rates are contributing to a boost in the spring housing market.
I believe that mortgages rates will continue to rise in the upcoming years and that will slow things down slightly. Also Calgary is expecting net in-migration this year which will help to keep housing prices at a normal level.
Demand for home ownership will moderate as mortgage rates rise. This, coupled with improving home values, consumers will see monthly carrying costs move up and that will temper demand for home ownership. The pace of activity will be in line with the primary factors of housing demand such as employment, income growth as well as net migration.
Visit http://www.brentlane.com/ to see all Calgary MLS listings updated daily
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