CALGARY- Calgary’s real estate industry continues to put up red hot numbers, with total sales in November nearly 20 per cent higher than last year.
1,730 units exchanged hands last month, a 19 per cent increase from November 2012. Year to date sales sit at more than 22 thousand units.
“Many first-time homebuyers appear to be moving now to get ahead of any further increases in home prices, rent hikes, or an increase in lending rates,” said Becky Walters, president of the Calgary Real Estate Board. “Current owners are taking advantage of the recent price gains to upgrade to a home that better fits their lifestyle.”
It continues to be a seller’s market, with total inventory levels lower than usual for this time of year. Families area also looking outside the city limits.
“Overall, sales growth in surrounding communities outpaced the city,” said Walters. “They offer the family friendly attractions of small towns, and they’re more affordable.”
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