New Mortgage Rules Helps Increase Home Sales In October

There might have been some good news that came out of the new mortgage rules that were put into effect October 17th.With the word from the federal government about the changes, home sales in Calgary increased in October with city-wide numbers sales of  1,644…which is an increase of almost 16% over 2015 numbers.That’s the first time in 2 years that this has happened.

october2

The largest gain in sales in October occurred in the detached sector at 18 per cent. In the detached market, homes priced between $300,000 and $400,000 saw the largest improvement in sales, while attached and apartment sales growth was mainly occurring in the lower price ranges.

oct1

Since the start of the downturn, home prices have declined 3.8 per cent for detached homes and 9.4 per cent for apartment condominiums. Even though there was a rise in October sales, most monthly prices continued to decline in the market. Contact me today if you have any questions, or if you would like more information about the October stats.

 

bruce.voigt@shaw.ca

(403)620-2685

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

A WordPress.com Website.

Up ↑

%d bloggers like this: