Calgary market sets February record as home sales surge

The Calgary Real Estate Board says the market set a February sales record as the number of homes changing hands surged by 80 per cent since last year and new listings climbed by 63 per cent in the same period.New listings soared to 4,652 from 2,850 a year earlier, but the board says that still only gives the market one month of supply.

The board’s chief economist Ann-Marie Lurie says while gains in new listings will help the city edge toward more balanced conditions, it will take some time for the market to cool.

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