According to the figures released by Statistics Canada today, the cost of a new home rose slightly higher in Calgary than the rest of Canada.
In Calgary, the NHPI was up 0.4% from the previous month, and up 2.0% from March 2009. Canada-wide, the index was up 0.3% month-over-month and 1.6% from the previous year.
The largest year-over-year rise was recorded in:
- St. John’s (+5.1%)
- Winnipeg (+4.5%)
- Vancouver (+4.3%)
Among the 21 metropolitan regions surveyed, 3 registered year-over-year declines in March:
- Victoria (-4.6%)
- Edmonton (-2.4%)
- Charlottetown (-1.2%)
Source: Statistics Canada
Source: Statistics Canada
Metro-Calgary SFH inventory is at its highest level this year, currently at 5454.
Here are the inventory levels for May month-end for previous years:
May 2009: 3861
May 2008: 7099
May 2007: 3716
You can view more indepth statistics at http://www.FindCalgary.ca
I think to some extent, many would agree that the Toronto and Vancouver housing market is unsustainable at its current blistering rate.
As outsiders looking in, we Calgarians might have a less biased viewpoint than those in the following BNN interview from yesterday:
Condo Craze
What are your thoughts? Would love to hear them!
For a moment there it seemed like the inventory growth might be slowing down a bit, but it looks like we’re on pace to add over 1,100 SFH to the inventory this month. 6,102 at month’s end if this keeps up.
Sales are on pace to beat April’s numbers though, at 1,404 compared to 1,352.