Calgary Real Estate Home Prices Rising
Calgary Real Estate home prices are rising quickly according to ATB financial. They see the surge in prices as a sign that housing starts haven’t been sufficient. Housing starts in Alberta for April came at 35.3 thousand, which is 70 per cent higher than a year ago. This indicates that this spring construction season is as hot as its been since the boom years. Unlike the rest of the country. Alberta home prices have remained relatively flat for the past couple years, but clearly market prices are still sufficiently high (thanks to the last boom) to induce continued strong housing activity. Alberta’s strong local economy, combined with accommodative credit conditions, help to justify relatively strong real-estate activity. What’s occurring in the GTA is far less clear. Cheap money helps explain some of the activity, just like Alberta, but the unemployment rate in the GTA remains stubbornly high at 8.6 per cent —a figure that would be higher if it weren’t for the above normal construction activity.