According to figures released todayby CREB® (Calgary Real Estate Board), Calgary residential sales in 2011 increased eight per cent over last year, with 18,568 sales for 2011 compared to 17,267 in 2010.
Sales activity was tepid in the first half of the year, however, early improvement in employment and migration resulted in a pickup in housing demand in the second half of the year. By the end of June 2011, year-to-date sales activity had only increased by two per cent compared to the second half of the year, where residential sales improved by 15 per cent.
“While sales activity in 2011 remained below the long run average by 17 per cent, monthly figures point towards the trend of this gap narrowing,” says Sano Stante, president of CREB®.
To view the full report see creb.com