We've already heard the recent reports about the price growth of resale Northwest Calgary real estate, but now we're getting word that new home prices in Calgary are showing price growth—4.3% growth to be exact.
Statistics Canada is reporting that our city is showing the second highest rate of year-over-year growth in the new home market since February. If you're wondering where the highest market is, that would be Winnipeg (5.5%). Because of the rise here and other Western markets, growth nationally is sitting at 2.1%.
According to a Calgary Herald article:
“Calgary was the top contributor to the advance in February, up 1.0 per cent from January. This was the largest month-over-month increase in that region since May 2007. Builders indicated that increases in material and labour costs were the main reasons for higher prices.”