Record net migration and the gains in employment over the last couple of years will contribute to increasing sales and prices for the Calgary region’s housing market in 2014 and 2015, says a new report by Canada Mortgage and Housing Corp.

The Calgary region has experienced strong net migration in the last couple of years with 31,996 in 2012 and 45,168 in 2013. This year, migration is forecast to reach 33,400 and 28,500 in 2015.

Migration, along with other factors such as rising incomes and employment growth, has been a key contributor to the uptick in housing demand that Calgary has been experiencing.

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When it comes to home price growth these days, Calgary is leading the pack.

According to the Canadian Real Estate Association’s MLS Home Price Index, released Thursday, prices in Calgary in April grew by a nation-leading 9.52 per cent from last year.

The survey of 11 major centres said prices were up by 5.02 per cent across the country.

The index also showed that Calgary prices have spiked by 21.83 per cent over the last three years, which is also the highest rate of growth in the country. Nationally, prices have gone up by 12.19 per cent over that period of time.

Calgary could see the potential of a real strong spike in value increases over the next six months - more than what we have witnessed in the previous six months - unless a whole new wave of available, quality supply hits the market.

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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