Even if you’ve only remotely been following the real estate market, I’m sure you can glance at the chart below and without looking at the axis labels, guess which bar represents Calgary:
Once again, Calgary led the nation in annual price growth in the new housing market. According to Statistics Canada, the New Housing Price Index for Calgary advanced 7.6% year-over-year in April.
On a monthly basis, Calgary prices were up 0.6%, as builders reported higher material and labour costs, market conditions and an increase in the cost of developed land.
There’s a bit of silver lining for buyers: price increases in the census metropolitan area (CMA) of Calgary have been slowing since the start of 2014. Slowing, but still rising.
For Canada overall, the New Housing Price Index (NHPI) rose 0.2% in April, following identical increases in both February and March. On a year-over-year basis, the NHPI rose 1.6% in April, following an identical increase in March.
Did You Know…
If you’re looking to buy a new home from a participating builder, there can only be one price for the home whether sold in-house or by a REALTOR®?
That means I can act as your Buyer Agent and provide representation and advice without costing you additional money or losing any leverage when negotiating. Why wouldn’t you want to take advantage of that?
To find out more about the program and which builders participate, click here