Calgary Housing Market
Whether already in the city and looking for a new house or moving in from elsewhere, those perusing real estate listings in Calgary are making a fantastic choice. A recent report, Canadian Housing Update: Tale of Four Cities, indicates Calgary is leading economic growth in the country, making it the ideal place to be.
The study, conducted by BMO Capital Markets, compared the housing markets of Canada's four biggest cities: Calgary, Vancouver, Montreal, and Toronto. Analysts cited better job prospects, faster wage growth, and healthier housing affordability, as the primary factors of Calgary's success.
Those already in Calgary are confident enough in the economy to stay put; and those outside are migrating to the city for good jobs. This may mean fewer houses on the market and a bit more bargaining power for home sellers, but it also means an exciting and promising future for Calgarians.
For that matter, there is no need to panic about Calgary's "seller's market." Sal Guatieri, senior economist with BMO Capital Markets, said that housing costs remain reasonable: roughly 23% of earnings. Additionally, Guatieri stated that increased housing costs have come hand-in-hand with increased wages, citing a 4.4% increase in the first 10 months of the year. This is double the national rate.
All signs point up for making Calgary home; and it's good to be prepared for the seller's market. One of the best things you can do is enlist the help of a trusted and knowledgeable real estate advisor. There are several strategies for making the winning offer on a house with multiple offers. An experienced advisor can guide you through these strategies to ensure the best deal on the perfect home.
That's where we come in. We're excited you've chosen Calgary as your home. Now, let's find a house! Contact us to get started.