Calgary resale homes are expected to experience five to seven per cent year-over-year price growth in the short term, says a report released today by the Conference Board of Canada.

The Metro Resale Index classified Calgary as being in a “buyer’s” market.

The average MLS residential sale price in April in Calgary was $392,646, down from $399,104 in March but up from $368,025 in April 2009.

The conference board said Victoria, Vancouver, the Fraser Valley, Halifax and Newfoundland are also expected to see five to seven per cent year-over-year price growth in the short term.

Leading the country with expected price growth of more than seven per cent in the short term will be Edmonton, Saskatoon, Gatineau, Montreal, Quebec City, Sherbrooke, Trois Rivieres and Saguenay.