It seems that the Heart of the New West has been turning more hearts to its favor, as more people have been considering the city a good place to live in.
In 2013, MoneySense.ca made a list of the best cities to live in Canada; at the top was the city of Calgary, Alberta. The list was based on different factors such as weather, population growth, average household income, and average household prices.
If you’re thinking of moving into Calgary, you’ll have to do sufficient research to find the perfect home for you. Furthermore, you’ll also have to read up on the latest news to find out when the best time to go house hunting would be, as the surge of house buyers has affected the demand and supply ratio of the market.
The Calgary, Alberta real estate market has always been a volatile one, so keeping up with the news is important. In fact, despite it being among the lowest in the entire country, studies show that it has one of the highest price hikes as well. Mario Toneguzzi of the Clagary Herald writes:
“Our market is always changing, sometime on a weekly basis,” said Tanya Eklund, REALTOR® with RE/MAX Real Estate (Central) in Calgary. “In some areas of the city, mostly inner-city and in particular price points, we are seeing multiple offers due to the lack of inventory. This is not consistent however throughout the city and into the rural areas where we are still seeing a plethora of inventory and higher average days on market.
GlobalNews.Ca also published an article regarding the real estate market, stating that sales have been going up faster than expected and the number of houses in listings are running low even though a lot of people are still looking for properties to buy.
More people renting are also considering moving out of monthly rent payments to monthly mortgages as the prices are now almost comparable.
There are a lot going on in the market, and if you’re planning to buy a home or invest on a property, you’ll need to find Alberta real estate news sources like CREB® Now to keep you updated. With a reliable collection of information, you’ll soon find a bit of stability despite the volatility of the real estate industry.
(Article and image excerpt from Calgary House Price Growth Tops National Average, Calgary Herald, October 15, 2013)