June 18, 2016 | Cailynn Klingbeil
Former CREB® president Patti Beaudry recalls city's fast pace in 1997
Former CREB® president Patti Beaudry recalls 1997 as a bright spot in Calgary's real estate history, in which resale housing activity and prices hit then peak levels and the city's population experienced a newfound surge.
The economy was vibrant, with new jobs bringing newcomers to the city by planes, trains and automobiles, recalled the 35-year real estate veteran, who guided the organization's board of directors through its boom year. By year's end, the city's population gained 3.3 per cent to 934,300 compared to 2.4 per cent growth the year prior. Three years later, it hit the once-mythical one-million mark.
Calgary's housing market at the time illustrated the impact of this new wave of new residents. Sales in the resale residential sector jumped more than 20 per cent to 18,423, while prices surged by more than six per cent to $146,788, according to CREB®.