Calgary’s housing market showing signs of stability, but the road to a full recovery will take time.
If Calgary’s housing market was a hospital patient, it would have been in intensive care for the last year. Today, though, the patient is showing signs of serious recovery.
First quarter data for 2017 from the CREB®, released earlier this month, reveals the market could be entering a period of stability in which supply and demand are essentially balancing out in the detached sector of the market.
“When we talk about recovery, we have to differentiate the marketplace conditions because there are two segments facing different prospects,” said Ann-Marie Lurie, chief economist with CREB®.