Hooray! The sky is NOT falling! Please note that the absorption rates for detached properties in most of the reported market areas are over 22% AND in most cases the absorption rates have increased compared to February numbers.
Download Calgary and Area Real Estate Statistics – March 2015
Because 2014 was a “Boom” sales year for Calgary Real Estate, even without the drop in the price of oil, the absorption rates in 2015 would have been lower.
The data over the last five years show that in many of the reported markets we are not far off 2011 or 2012 absorption rates.
In fact, the March absorption rates reflect a “normal” Calgary and surrounding areas market.
For all of us who are involved in the residential real estate market, we know that a portion of our population will always marry divorce, have children, downsize, move up or away or move to Alberta, so there will always be demand.
Anyone who buys property during this market cycle will have the good fortune of incredibly low financing rates making this a great time to purchase an investment property.
If you are curious about the current market value of your home, or market conditions in general, please feel free to contact us!
Hope this helps!
Susanita de Diego
