Calgary house prices to rise 5%-7%

According to an article posted on the Calgary Herald website "The Conference Board of Canada is forecasting house prices in Calgary to experience short-term - over the next six months - year-over-year growth in the range of five to seven per cent.

In its Metropolitan Monthly Monitors report released today, that growth expectation put the city on the same level as Victoria, Vancouver, Fraser Valley, Regina, Ottawa, Halifax and Newfoundland.

One level above, seven per cent growth and higher, consisted of Edmonton, Saskatoon, Gatineau, Montreal, Quebec City, Sherbrooke, Trois-Rivieres and Saguenay.

The report said Calgary’s resale residential real estate market in March was considered to be balanced as the average sale price was $400,378.

It was $392,092 in February and $366,789 in March 2009."

Article Source: The Calgary Herald