Early signs Calgary will continue to lead the national pack in home sales activity is poised to reignite broker interest in that market.
Residential sales activity in the Calgary area last month increased 11 per cent over the corresponding 2011 number, according to the Calgary Real Estate Board. It means that after the first three quarters of the year, residential sales within city limits totaled 17,018, a 15-per-cent increase over 2011.
That’s considerably better than slowing markets across the border in B.C. and those in Ontario.
The trend will likely continue into the first half of 2013, according to some economists, something unlikely to be lost on broker looking do more business in active markets.
Last year, MortgageBrokerNews.ca reported that an increasing number of B.C. and Ontario brokers were focused on winning Alberta licenses as a way of better promoting themselves in Calgary and Edmonton.
Last month, the province’s regulator pointed to the slow pace of broker relicensing just ahead of a Sept. 30 deadline. Any void will likely be filled by out-of-provmce brokers, said one Calgary mortgage professional, pointing to the lure of Alberta’s oil industry.
That same activity is set to deepen the housing market.
“There has been significant discussion over the slowing national market,” said Bob Jablonski, CREB president. “However, Calgary is seeing improving sales activity and price growth with no indication that market is poised for a correction.
“In fact, for the first time in several years, the Calgary housing market is demonstrating typical behavior for this time of year.”