Home sales, prices spike in February amid low mortgage rates, vaccine rollout: CREB News Staff

CALGARY — The Calgary Real Estate Board says the continued rollout of COVID-19 vaccines and low mortgage rates led to a spike in home sales and prices in February.

The board says sales in the Alberta market totalled 1,836 last month, which is a level Calgary has not seen since February 2014.

Calgary sales jumped by more than 54 per cent year-over-year and amounted to 1,190 in February 2020.

Prices also climbed by about 8 per cent to reach $485,870, up from $446,690 the year prior.

New listings amounted to 2,848, an increase from 2,517 during the same month a year earlier.

CREB says despite new listings improving in February, the gap between new listings and sales narrowed and kept inventory levels very low.

This report by The Canadian Press was first published Mar. 1, 2021.

The Canadian Press

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