May 2012

Found 2 blog entries for May 2012.

Statistics Canada reported last Friday that Greater Calgary and Alberta in general were experiencing the lowest inflation rates in the country. Consumer prices went up by just 0.8 percent within the last 12 months. Compare that to the average two percent hike seen nationally. In the Calgary metro area the prices went up 0.9 percent.

In April the inflation rate for Calgary and Alberta were 0.3 percent on a monthly basis and 0.4 percent for the rest of Canada. ATB Financial’s senior economist Todd Hirsh noted that Alberta residents are taking notice, particularly when it comes to their energy costs. This is the lowest inflation rate seen by consumers since the low point in the 2010 recession.

Hirsh noted that the inflation rate does not indicate a slow

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Calgary is once again poised to become the hottest real estate market in Canada. MLS data from April showed that the city saw 2,720 properties change hands, a 30 percent increase over April of 2011. On a national level, sales this April saw a 11.5 percent increase from April of 2011. Robert Kavcic from BMO Capital Markets noted that for the first time in nearly three years, sales have climbed above the average ten year mark.

Prices are rising more modestly though. The Canadian Real Estate Association, or CREA, noted that in April the average home price was $414,932 which is a 0.7 percent increase. Nationally the increase was 0.9 percent. But inventory is tightening up. All it would take for Calgary to see its real estate market skyrocket would be a…
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