The four cranes rise from the ground and reach skyward just east of Calgary’s downtown City Hall building.
They are an obvious sign of progress in the long-discussed East Village development on almost 20 hectares of land situated in a major spot near the heart of the city.
Another key measure of success in the past year was the large number of people who came down to East Village to visit and participate in activities.
Brown says the community hosted 148 days of events in 2013, attracting more than 50,000 people to everything from the typical festivals to Opera in the Village.
According to Global Real Estate Trends report released Friday by Scotiabank Economics, says Alberta may outperform national housing markets in 2014.
“Relatively firmer employment and income gains and strong population growth are expected to underpin modestly higher home sales and steady new construction, while tighter supply conditions lift prices,” said the report authored by Adrienne Warren, the bank’s senior economist and real estate specialist.
The report said Canada’s housing market in 2013 outperformed expectations. The end-year tally for national home resales will be largely on par with 2012 and in line with the average pace of the past decade, it said.
Demand for residential real estate in Calgary this year was at its peak level in years as decreasing inventory levels could not keep pace with buyer enthusiasm, driving the market into seller’s territory for the first time since 2007, says a new report by RE/MAX.
The Housing Market Outlook 2014, released Wednesday, said several offers made their return in 2013 amid growing competition particularly at the lower single-family price points, but the “frenetic climate of 2007 did not return with it.”
RE/MAX said the upper end of the market is anticipated to gain further traction next year, strengthened by employment and income growth and equity gains.
The lure of a warmer and milder climate is attracting more and more homebuyers from Calgary and Alberta to Victoria.
Shelley Mann, president of the Victoria Real Estate Board, stated the residential market in the West coast city has been experiencing a definite increase in out-of-province homebuyers.
“A lot of them are buying them to come out here and spend the winter. It’s the snowbirds coming this way versus going down south. We’ve got a really good inventory of condos on the market right now and fairly competitively priced. People are looking at that. This is a good investment . . . And there’s a lot of new inventory coming onto the market.”
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