Economy

Home prices improve in Calgary

Home prices improve in Calgary”

The average prices of an Edmonton home rose by 2.3 per cent previous year to $386,532, according to a report released Wednesday by Royal LePage.

Royal LePage has released numbers Wednesday which its says show the median price of two-storey homes and bungalows in Toronto declining as 2017 came to an end.

The real estate company says based on data in 53 markets, the price of a home in Canada increased 10.8 per cent year-over-year to $626,042 in the quarter.

But the company says in its report released Wednesday that the median price of a condo grew faster than any other housing type studied, rising 14.3 per cent to $420,823 on a year-over-year basis due to gains in numerous largest markets.

Home prices in Metro Vancouver are expected to rise again in 2018, as "exceptionally" low inventory pushes up cost, according to Royal Lepage's latest market forecast.

"The decrease in home prices that we saw in Saskatoon in the final quarter of the year comes down to a high level of available inventory, especially in the bungalow segment of the marker", Fisher said in a release.

"We have seen layoffs in the potash and uranium industries, keeping our unemployment rate above the national average".

Royal LePage says the prospect of new mortgage rules making it more hard to purchase a home may have drawn prospective homeowners back in to the market to compete for somewhat affordable property.



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