Calgary

Calgary housing market shows signs of recovery

Some Calgary homebuilders say their sales numbers are starting to show some signs of improvement after a slowdown caused by the energy sector slump.

After 28% year-over-year dip, construction investment rose 8.5% from March to April

Housing sales, particularly in the lower price ranges, have started to recover in Calgary, builders say. (Robson Fletcher/CBC)

Some Calgary homebuilders say their sales numbers are starting to show some signs of improvement after a slowdown caused by the energy sector slump.

The latest numbers from Statistics Canada show investment in all types of new housing construction dropped by 28 per cent between April 2015 and April 2016.

But between March and April this year, investment climbed by 8.5 per cent.

Avi Amir with Homes by Avi says sales in the under-$400,000 price range are increasing.

"During the first two months of the year, January, February, we could not even sell 20 homes in a month. Maybe not even 15. I think one month we only had nine," he said.

"Right now, as of March, we are selling more than 30 single-family homes."

That figure includes row houses.

Amir said people who need a home are starting to take advantage of lower prices, sales incentives and low interest rates.

Charron Unger, president of Avi Urban, said the most active buyers seem to be those focused on the lower price range.

"Over the past three, four months we have been seeing considerable sales and most pronounced in our single-family division," he said.

"And I would say that that is because there is a greater opportunity for affordability for people walking through the door," he said.

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