Single-family Homes Spur Calgary Real Estate Market
Calgary real estate is showing promise with single-family homes being built at a faster pace than the same period in 2008. The Calgary real estate market had a 2009 record of 832 units built in one month. Chief Economist Bob Dugan of the Canada Mortgage and Housing Corporation, said that “despite a small decline in November’s multiple home construction, overall starts numbers were up due to a solid increase in singles starts.”
The renewed interest in home construction and the real estate market in Calgary is likely due to lower prices, reasonable mortgage rates, and less availability. Strong demand for single-family housing continues to rise and push for more new construction.