RISE UP!

New-home prices in Calgary region on the rise
By Mario Toneguzzi
Calgary Herald July 13, 2012

Real estate . New-home prices in the Calgary region continued to rise in May.

Statistics Canada said Thursday that prices in the Calgary area were up 0.3 per cent from April and 0.8 per cent from a year ago.

Nationally, the index rose by 0.3 per cent and prices were up 2.4 per cent from May 2011.

Gains in Toronto, Oshawa and Calgary were the top contributors to the May increase, StatsCan said. The most significant monthly price declines were recorded in Victoria (0.8 per cent) and Charlottetown (0.4 per cent).

The Royal LePage house-price survey, released earlier this week, showed varied year-over-year resale house price increases in Calgary.

In the second quarter, detached bungalows posted the largest average year-over-year price increases, rising five per cent to $432,322. Prices for two-storey homes rose 2.5 per cent year-over-year to $425,456. Condominiums declined by 0.8 per cent year-over-year to $247,056.