The news for Calgary real estate isn't pretty for some right now. Consider the amount of units sold up to the end of the month of November in 2008 compared with 2007. There were approximately 31000 units sold up to the end of November 2007 and approximately 23000 units sold up to the end of November this year. That's a reduction of 40%! This behavior, however, could be seen as a natural correction following a period of unprecedented growth. Calgary has had a shortage of housing for most of the last decade or more and it is just now that builders have caught up to the demand. For sellers, this can be trying times as values continue to decrease, however, for buyer's this could be a time of great opportunity. Calgary's real estate market will turn around and most think this is an inevitable fact. Alberta and specifically Calgary, has a lot to offer and the value of Alberta's natural resources cannot be overlooked as the world economy starts to turn around. These facts make Calgary real estate a great bargain and a great investment opportunity. For people who have stable credit and a considerable down payment, Calgary real estate may be one of the best investments when compared with equities and more conservative investments. So, for those people who are considering purchasing in Calgary, this period of contraction will allow you to peruse the market for the absolute best deal without feeling the pressure to buy. Relax and enjoy the market because the days of a frenetic Calgary real estate market or at least a more balanced market aren't that far off.
As always, visit my Calgary Real Estate website for further information regarding the Calgary Real Estate market.
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