Flood contributes to booming Calgary housing market, but hurts High River sales

CALGARY – Realtors say flooding that hit southern Alberta in June has contributed to a booming housing market in Calgary.

Ann-Marie Lurie with the Calgary Real Estate Board says the floodcreated some extra demand, especially for single family homes.

But she also says the economy is strong and the market has been growing over the last year.

Prices are up by about seven per cent over last summer’s numbers and the number of homes sold is setting a record pace for this time of year.

Things are not as rosy in High River where realtor Jamie Ellice says there has been little activity since the flood.

He says two homes that had some damage have sold, but they went for well below normal market value.