Luxury home sales in Calgary nosedive due to falling oil prices
Calgary’s luxury home resale market has taken a hit in 2015 with $1-million property transactions down 36 per cent from last year’s record level.
Sothebys International Realty Canada, in a market update Thursday, said “fluctuations in oil prices and continued economic uncertainty are expected to dampen Calgary’s high-end real estate market in the last six months of the year,” noting the NDP government’s fall provincial budget could also influence sales.
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