Alberta Leads in Resales

The province of Alberta will lead the country in resales during both 2012 and 2013, according to the Canadian Real Estate Association.

Data from the organization shows that Alberta will end this year with a 13.1 percent increase in resales compared to last year, with 60,800 sales. Alberta is projected to lead in 2013 with a growth of 1.3 percent, reaching 61,600 sales.

Calgary mortgages helped Alberta take the lead, with 1,831 home sales in the region during November. This marks a 10.6 percent increase from the same time last year. In the province as a whole, sales increased by 3.2 percent during November, reaching 4,034.

“National sales activity has remained fairly steady at lower levels since mortgage rules were changed earlier this year, but that stability masks some real differences in trends among local housing markets,” said Wayne Moen, president of the CREA.

In addition to increases in sales, home prices also rose during November. The average November sales price in Calgary rose by 3.8 percent on a year-over-year basis.