Home Transactions in Calgary Valued at $ 6.8 Billion this year

The Calgary real estate market is booming in 2013. Home transactions in Calgary have already hit $6.8 billion this year, up $800 million on a year-over-year basis. Last year, transactions totalled $9.1 billion, one of three years it has surpassed the $9 billion mark. The record year for transaction values was set in 2007, when it reached $11.3 billion.  Some of the reasons why:

- continued low interest rates and an increasing population

-competing offers from buyers due to low inventory levels

-renters moving into the market due to rental prices and low vacancies

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