Resale house prices in Calgary expected to climb 5-7%

Resale market sees increase in seasonally-adjusted sales

By Mario Toneguzzi

Short-term year-over-year price growth expectations for Calgary’s resale housing market is in the five to seven per cent range, according to the Conference Board of Canada.  The board’s Metro Resale Index, released Friday, said Calgary joins Victoria, Vancouver, the Fraser Valley, Regina, Winnipeg, Halifax and Newfoundland in that category.

However, the price growth expectations are below the top category of seven per cent and more, which includes Edmonton, Saskatoon, Gatineau, Montreal, Quebec, Sherbrooke, Trois-Rivieres and Saguenay.

The conference board said Calgary’s resale housing average price in December for all residential properties was $394,949, down from $401,590 in November and from $403,148 in December 2009.  Seasonally-adjusted annual sales in the city in December were 21,996, which were up from November’s 20,100 but down from 24,108 in December 2009.  Throughout Canada, the board said sales were higher in November in 13 of 28 markets surveyed but remained below year-earlier levels in 26 and “often by a wide margin.”

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