In 2014 oil prices plummeted and Calgary housing prices dropped 4.7 per cent. This made it difficult for anyone who wanted to purchase a home or sell their home because people were struggling to keep jobs and find them. This not only effected the job market, but for anyone in the real estate business as well.
“In the last six months, on average per month, there’s about 1 per cent of all the realtors making sales in the city. So there’s roughly 5,500 realtors in the city and you know last month alone there was less than 100 sales” says Assistant Realtor Sean Travis.
A new study though has shown that the housing market has climbed up 0.6 per cent year over year in Calgary and this is a good sign for the economy.
Travis added “On the bright side things are starting to pick up a little bit. You’re starting to see more people with money interested in selling ans that of course is intern because you know jobs are starting to come back in Calgary”.
It might seem like this is good news for our city, but Calgary still has a long way to go if it ever wants to be what it once was when the oil industry was big.