Numbers are starting to come in for June, and predictions are that real estate has begun to slow. Final numbers will take another day or so, but in Calgary, Canada's hottest real estate market, home sales have begun to slow. Of course that is a relative term. Home prices have risen $10,000 since May, and an incredible $125,000 since last June. Kevin Clark, President of the Calgary Real Estate Board, believes that the Calgary market will start to cool a little with an increase in the number of homes listed. Check out Shawn Logan's article in the Calgary Sun for all the numbers and details.
The change in the Calgary market will be welcome news to those who are still seeking a home, and to investors who are sniffing out good deals. However, the recent slow down may be an indication of a market that has grown way to fast and of course the dreaded housing bubble that analysts have been warning of. In an energy rich economy like Alberta the slow down is sure to be just the market leveling off.
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