Housing prices stagnant in 2010

It’s been a tough year for Calgary realtors and a good one for buyers as the city’s housing market has yet to recover fully, show data released Tuesday by the Calgary Real Estate Board.

The figures also show that the CREB, one year ago, had greatly overestimated the strength of the Calgary housing market.

“Undoubtedly, housing markets in Alberta and Calgary underperformed in 2010, as sales recoveries did not materialize as forecast,” said CREB president Diane Scott.

“Employment and net-migration have been slower to pick up here in Calgary. And these are key drivers of our housing market. The good news is we are now seeing marked improvements in investment and employment in the energy sector.”

Calgary realtors sold only 12,095 single-family homes in 2010, and 5,181 condos. That’s fewer sales than in 2009.

The average price for a single-family come was $461,144 last year, compared to a forecast $470,000.

Ali Abdalla

Ali Abdalla

CENTURY 21 Bravo Realty
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