Calgary and Edmonton buck national housing market trend of declining sales | Cross River Real Estate

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A soft landing is underway in the Canadian housing market and should continue but Calgary and Edmonton are bucking the trend with sales rising compared with a year ago, says a new report released Tuesday by BMO Capital Markets.
The report, by Sal Guatieri, senior economist for BMO, said the Canadian housing market is “calming not crashing.”
“In most regions, sales have fallen at double-digit rates this year from high levels last year,” said Guatieri. “But the rate of decline has slowed recently.
“By contrast, Alberta enjoys decent sales growth.”
As of April, the three month moving average of sales in the existing home market was down 10.9 per cent across the country. However, Calgary and Edmonton were the only two major markets to see growth at three per cent and 1.2 per cent, respectively.
Also, while the average sale price across Canada rose by only 1.0 per cent, Calgary led the nation with a 7.5 per cent hike. Edmonton was up 3.2 per cent.
Guatieri said Calgary’s resale prices are “supported by good valuations, following the 2008 correction, and strong job growth.”


Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Calgary and Edmonton buck national housing market trend of declining sales | Cross River Real Estate

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