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A home under construction in Calgary. The capital of the Canadian energy industry is experiencing a housing boom, with prices and sales rising on strong population growth. Home prices in Canadian oil country are surging, driven by a rush of newcomers from abroad — as well as from more expensive markets across the nation. Calgary — the largest city in the oil-rich province of Alberta — saw its benchmark home price in June rise 1.5% from a month earlier, according to data from the Canadian Real Estate Association released Friday. Prices in Calgary have gone up 4.2% in a year, the biggest increase among the more than 50 markets the group tracks. It’s the only major Canadian city to experience any increase at all. The benchmark price in the city has risen 34% in three years. -10.0-5.00 5.0 % CalgaryTorontoVancouverWinnipegMontrealOttawa Spurring the demand for homes is an influx of international arrivals as Prime Minister Justin Trudeau pushes immigration to record levels to fuel Canada’s economy. But Calgary is also seeing a stampede of new residents from other Canadian cities, where buying a home is out of reach for many. Even after the recent gains, Calgary’s benchmark price of C$538,000 […]
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