See on Scoop.it – My Home Calgary: Calgary Real Estate News

Sales activity trending towards long-term stability.

Residential sales in the City of Calgary totaled 11,752 for the first half of this year, a 16-per-cent increase over the same period last year, according to figures released on June 3, 2012 by CREB® (Calgary Real Estate Board) . The rise in sales has brought activity levels closer to long-term trends in the city.

“Recent mortgage rule changes may dampen some of the gains in the resale market,” says Ann-Marie Lurie, CREB®’s chief economist. “But this is not expected to cause a full reversal of either sales or price growth, provided the global economic situation does not significantly worsen.”

“Our housing market is returning to normal levels of activity, supported by the improvements in our employment sector and rise in migration.”

See on myhomecalgary.com