House prices expected to grow in Calgary

5-6.9% year-over-year hike forecast in the short term

By Mario Toneguzzi, Calgary Herald

CALGARY — Short-term year-over-year price growth expectations for the Calgary resale housing market are between five and 6.9 per cent, according to the Conference Board of Canada.

In a report released Thursday, the board said the average sale price in Calgary was $423,917 in April, up 4.6 per cent from last year.

The seasonally-adjusted annual rate of sales was flat at 28,548 while listings dropped by 1.6 per cent to 44,364.

The board listed Calgary as a balanced market.

Edmonton’s short-term year-over-year price growth expectations were three to 4.9 per cent.

The seasonally-adjusted annual rate of sales in Edmonton was 17,100, down 8.6 per cent from a year ago while the average sale price moved up by 1.0 per cent to $339,408. Listings were off by 8.5 per cent to 29,232.

Edmonton as well was listed as a balanced market.

Transactions were below their April 2012 levels in 24 of 28 markets in Canada, with 21 reporting a drop of five per cent or more.

Listings fell from a year ago in 14 markets.


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