Calgary bucks big-city trend with steep condo-price declines

. Over that span, new condos are not only the weakest segment of Calgary’s housing market, but also the weakest area in any of the six major markets tracked by Statscan.

But by then, Calgary was already several months into an oil-price collapse that sent the province into recession, and from which it hasn’t entirely recovered. During the particularly bleak years of 2015 and 2016, more than 12,000 condo units were finished. Within the City of Calgary, the benchmark condo price was a touch over $250,000 in October, or down about 2 per cent from a year ago. It is still “firmly” a buyers’ market, CREB added.

On the demand-side of the equation, hiring has picked up in 2019, though the region’s unemployment rate is still high by historical standards at slightly more than 7 per cent.

It’s Alberta. I think those prices will be dropping for the forseeable future.

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Iran gas price protests quickly turn violent: AP explainsProtests over gasoline prices have swept across some 100 cities and towns in Iran, turning violent faster than widespread economic protests in 2017 and rallies over the country's disputed 2009 presidential election. Canadians should follow their lead. 40 years of suppression of ppl by islamic regime just needs a catalyst to burn the country. Mullahs should go and get prosecuted for their crimes. Canada should be with people of Iran not the government officials like Khavari who bring the stolen money in Canada. iranprotest
Source: CTVNews - 🏆 1. / 99 Read more »

Golden Knights crush Flames in 6-0 victoryWilliam Karlsson has third straight multipoint game; Calgary remains winless all-time in Vegas
Source: globeandmail - 🏆 5. / 92 Read more »

HuffPost is now a part of Verizon MediaSo, with the recent media coverage of Toronto and their escalating crime and cultural differences. There must be a fire sale on Condo's on Toronto.
Source: HuffPostCanada - 🏆 61. / 53 Read more »

University of Calgary encourages its exchange students to vacate Hong KongThe University of Calgary has offered assistance to two of its students who are currently participating in an exchange program in Hong Kong as police and protesters continue to clash in the semi-autonomous Chinese territory.
Source: CTVNews - 🏆 1. / 99 Read more »