CREB®’s Q1 2021 Housing Report Released
Posted by Billy Peshke on
City of Calgary, April 20, 2021 –
For the full report, please download CREB®’s Q1 2021 Calgary & Region Quarterly Update Report here.
The economic challenges associated with COVID-19 brought about a dramatic rate cut from the Bank of Canada and an even more significant drop in the discount rates for mortgages.
The low-interest-rate environment, combined with pent-up demand and increased savings among those who remained employed throughout the pandemic, is supporting stronger-than-expected gains in resale sales activity.
By the end of the first quarter, there were 5,945 sales in Calgary, 43 per cent higher than the 10-year average and the best start to the year since 2007.
“Sales activity is currently exceeding expectations. However, rising…
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