Demand for detached housing continues to rise. Fueled by the detached sector, Calgary home prices trended up for the fourth consecutive month, but remain below 2014 highs. “The economic climate is supporting detached housing market recovery,” said CREB® chief economist Ann-Marie Lurie.
“Improved demand and easing supply has created more balanced conditions and ultimately some modest price gains. While it will still take some time for prices to recover, the transition in the detached segment is an important first step to stabilization across all segments of the housing market.” For the first time since June 2015, prices in the detached sector did not decline on a year-over-year basis. Unadjusted detached benchmark prices reached $509,000 in May, one per cent higher than last month and May 2016 levels. For a full detailed report from the Calgary Real Estate Board please click HERE. Please do not hesitate to contact Doug, Susan or Kristen here at Team Penley McNaughton with any questions you might have or if you would like us to drop by and complete a free evaluation of your property. www.penleymcnaughton.com
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