Calgary has been named “a lone shining star” in Canada’s real estate market, in a report by TD Economics.
Calgary was the only city to report positive sales growth in 2012 of 14.3 per cent and is also benefiting from a 38.2 per cent increase in new housing starts, a sharp rebound from 2011, the report adds.
Canadian sales dropped by 10.5 per cent in 2012 overall, Vancouver by 26.6 per cent and Edmonton by 4.1 per cent.
“Stability in Calgary; fragility in Vancouver,” says a chart documenting Vancouver’s haywire average house prices.
(via The Huffington Post)