While home sales in major markets like Toronto and Vancouver started picking up steam again this spring, home sales nationwide in May — the most recent month for which national statistics are available — were up just 1.4 per cent year-over-year, compared with Calgary’s 11 per cent.
“I think we’ve been a bit surprised at how strong it’s been,” said Ann-Marie Lurie, chief economist for the Calgary Real Estate Board. Unlike Toronto and Vancouver, whose overheated housing markets have been a topic of national conversation in recent years, Calgary is coming out of a years-long slump that began with the oil price crash of 2015.Article content
Over the past twelve months, the Alberta labour market has outperformed the rest of the country in terms of job gains, and a recent report from Deloitte predicts the province will experience the strongest economic growth in the country this year at 2.1 per cent. “That can be an advantage to Calgary and attracting people here _ especially when we have a fairly strong jobs market and continue to see jobs growth, especially in areas like professional services and other higher-paid industries.”
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