Quote:
Originally Posted by photon
Other than the population growth (population is growing at 2.7% yoy in Calgary, which is what, 30,000 people?) those are all relevant. Also you can add in a lot of hidden inventory as people that tried and didn't sell are putting their stuff back on the market which increases supply.. mind you the supply isn't completely crazy like it was in spring 08, but it certainly is trending that way so it'll be interesting to see. Sales fortunately are better now than they were then so the absorption rate while high is much closer to balanced.
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Although I do wonder how much of that was a last minute frenzy from people knowing rates were about to head up. There are probably a few buyers out there who got rate holds still looking around. It'll be interesting to compare sales in May to what sales were in March.