According to CREB stats; Following steep declines in 2010 sales, the Calgary residential resale market is on the path to recovery. Single family sales will lead the growth with an anticipated 8 per cent increase in sales. Prices are expected to record a moderate increase, mostly due to an increase in higher-end sales and consumer appetite for somewhat discounted higher-end homes. The improved selection of homes in all price ranges will continue to contribute to the balanced conditions in Calgary’s housing market.

On the condominium side, gains in the market have been slower, due to ramped up supply in the new condominium market and improved selection of single family homes in a wider price distribution. Condominium sales in the second half of 2011 will not be enough to compensate for the declines in the first half of the year, and sales will still be marginally lower than levels recorded in 2010. Average condominium prices will remain steady, matching 2010 levels.

In my opinion the Calgary real estate economy will be steady for the remaining of 2011 and I am cautiously optimistic for 2012 with a slight increase in prices over 2011, (2% - 4%), depending on the area. The 2011 and 2012 sales increase still remains below the long term average sales.

We are still in a recovering market and employment and migration growth both look positive.  There are concerns regarding the uncertainty in the US market which may dampen some growth expectations.  Lower growth expectations in Europe and the US would likely result in lower demand and hence prices of oil.  This may cause some energy companies to delay investment spending, lowering our growth expectations.
Alberta behaves as an oil and gas province, which fluctuates rather quickly for good or bad. However, Calgary is positioned well for stability due to our resources.

Net migration in the first 6 months has been relatively strong in Calgary, which continues to help the resale market. Due to this, this will keep our market in balance. If net migration continues to be strong in the balance of 2011 – 2012 there is a possibility that housing prices could rise.
Calgary builders in most cases do not over supply or flood the market, which is great for market stability. Due to global issues, there is pressure on all prices and this directly affects Calgary and the public sentiment.
Housing starts are still lower than last year levels, and are expected to improve as inventory levels tighten in the resale market.  Current supply levels in the resale market are good with a wide range of available product. 

If we take a look at leasing downtown, commercial, and industrial properties, which is very stable at the moment, this is another strong indication, in my opinion, that the residential market will be stronger for the coming year.

In my opinion the current market condition is especially suitable for first time home buyers and growing families that need a larger home, interest rates are at historic lows also there are wide ranges of homes to choose from.

Alberta continues to be stable compared to other provinces in terms of growth and Calgary is one of the best places to live and work within Canada!

Here are some Interesting satistics for you. This is not the Top Producer Report.