Strong sales growth in July
Tight market conditions support upward price trend
Calgary, Aug. 1, 2013 – City of Calgary residential sales totaled 2,268 units in July, a 17 per cent increase over the previous year and up more than six per cent so far this year.
The flood that devastated the Calgary area on June 20 likely contributed to pulling forward sales activity. Some of this activity is related to the displaced renters and owners seeking other accommodation. But those consumers already searching for a home may have sped up their purchase decision, in response to concerns regarding the impact tight supply levels would have on prices.
The Calgary resale market is firmly in sellers' territory, supporting price growth. While citywide prices are nearly…