The City of Calgary is initiating neighbourhood walkabouts in various communities as part of a launch for the Inspiring Strong Neighbourhoods pilot project.

Inspiring Strong Neighbourhoods is a community led initiative empowering residents to identify opportunities and make recommendations to the City about municipal programs and services that directly affect their community.

The inventory of active homes for sale in Calgary are the lowest March levels in more than five years. The decline in new listings hampered resale sales growth, which declined by more than two per cent in March compared to March 2012.

New listings in March are five per cent lower than levels recorded in 2012, and five per cent lower after the first quarter. The overall active listings stand at just 4,006 units, up from February's levels but well below the number available one year ago.

Spring has brought some fresh air to the home resale market in Calgary.

The inventory of active homes for sale in Calgary in March was the lowest level for the month in more than five years. Homes are selling quickly, but the decline in new listings also hampered resale sales growth.

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According to a report by RBC, four in 10 Canadians planning to enter the housing market within the next couple of years will be first time buyers.

The 20th Annual RBC Home Ownership Poll found the majority of Canadians are taking a wait and see approach to purchasing a home of their own with 15 per cent likely to buy in the next two years; a decrease of 12 per cent compared to 2012.

Tightening market conditions are supporting price growth in Airdrie, Okotoks and Cochrane, although overall inventory levels of property remain healthy in areas surrounding Calgary.

Property sales in the surrounding areas totalled 865 units after the first quarter of the year, running at a similar pace to the same period in 2012. As in the entire region, the number of new listings has been falling at double-digit rates.