Calgary’s real estate market keeps humming along

The latest figures from the Canadian Real Estate Association, show house sales and prices in Calgary keep on rising.

Don Campbell, Senior Analyst with the Canadian Real Estate Investment Network tells 660News, he’s not surprised by the figures.

Campbell says there are two things driving activity here; people are selling and buying again following the flood, plus the Calgary economy continues to attract workers to the city who need places to live.

He says rental rates are getting so high, many moving to the city are choosing to buy instead of rent.

Realtors who were thinking about taking a winter holiday are being told to re-think those plans because they could leave some money on the table.

Campbell believe house prices in Calgary could finish the year up by about 8 per cent, and rise by another 6 per cent in 2014.

He say the city’s strong real estate market is also good news for surrounding communities like Airdrie, Okotoks, Cochrane and Chestermere with people who can’t afford to live in Calgary opting to live in those centres.

Looking further out, Campbell expects demand for condos will really heat up in the next 3 to 4 years, most because of affordability.

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