The Canadian Real Estate Association suggests Calgary's housing market has shifted from a position of balanced to a seller's market.

CREA's Chief Economist says while most regions in the country reported sales and prices declines last month compared to May, Calgary enjoyed gains. Gregory Klump says house sales in Calgary rose by half a percent in June compared to May and are running at their best level since June 2009.

Year over year, Calgary house prices are up almost six per cent, second only to greater Toronto.

Klump says they will need a few months of statistical data before passing judgement on the impact recent mortgage rule changes are having on the market.

Source: http://www.660news.com/news/local/article/383117--calgary-s-real-estate-market-bucks-national-trend