Two months does not a trend make -but in terms of resale housing, things are already looking better than a year ago. With the new mortgage rules in place, and 35-year amortizations gone the way of the dodo bird, it will take a while to see what impact those two elements will have on sales.
But for January and February, low interest rates and stable prices -and the fact oil had climbed over the $100-per-barrel mark for the first time in at least a couple of years -have done their job.
For the first two months of this year 1,956 single-family homes changed hands compared with 1,795 for the same period last year, says the Calgary Real Estate Board. The condo sector, though, didn’t fair as well, with sales sliding back to 770 this year compared with 912 early in 2010.
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