House prices likely to rise 5-7 in Calgary: Conference Board

Jun 25, 2010, House prices likely to rise 5-7 in Calgary: Conference Board

The short-term year-over-year price growth expectation for Calgary’s resale housing market is in the range of five to seven per cent, says the Conference Board of Canada.

In its latest Metro Resale Index released today, the board placed Calgary in the second highest level of price growth expectation which includes Victoria, Vancouver, the Fraser Valley, Regina, Halifax and Newfoundland.

The board surveyed 28 Canadian markets.

Leading the country in short-term year-over-year price growth expectation of seven per cent or more was Edmonton, Saskatoon, Gatineau, Montreal, Quebec City, Sherbrooke, Trois-Rivieres and Saguenay.

The index classified Calgary as being in a buyer’s market.

The average sale price in May of all residential properties in the city was $404,890, up from $393,775 in April and from $370,441 in May 2009.

By Mario Toneguzzi, Calgary Herald