Calgary's residential sales are continuing to show positive growth.

Sales increased by 15 per cent on a year-to-date basis in 2012, and were up eight per cent this November compared to last. With nearly eight consecutive months of double-digit, year-over-year sales growth, the city's inventory levels are decreasing, as new listings haven't been able to keep up. However according to CREB®'s monthly stats, the ratio between sales and inventory shows the market remains in balanced territory.

Buoyed by net migration, job prosperity and low mortgage rates, MLS® sales in Calgary this year are expected to reach their highest level since 2007, before increasing even further in 2013.

As outlined in the Canada Mortgage and Housing Corporation's (CMHC) annual Calgary Housing Outlook Conference, which took place Nov. 20 at the BMO Centre, Richard Cho, CMHC's senior market analyst for Calgary, said sales in Calgary should increase by almost 16 per cent in 2012 to 26,000 units, rising by another 500 units in 2013 to 26,500.

With economic growth and job creation supporting housing demand in the province, Canada Mortgage and Housing Corporation (CMHC) is predicting more good news for Alberta's housing market.

According to CMHC's third quarter 2012 Housing Market Outlook, sales, prices and starts are in the province are all predicted to increase over the next year.

Condos continue to be a big draw for Calgary buyers. According to the latest numbers from CREB®, Resale totals for condo apartments grew to 276 deals last month, up 17 per cent from 236 last year, with sales in both apartment and townhouse condos increasing last month compared to the same time in 2011.

Demand for condos in the Calgary market comes in stark contrast to Toronto, where condo sales plunged 20.5 per cent in the third quarter of the year, despite a 6.5 per cent rise in new listings.

Already the focus of plenty of attention, Calgary's thriving real estate market will once again find itself under the spotlight at the 14th annual Calgary Real Estate Forum.

Taking place Oct. 14 at the TELUS Convention Centre, the forum provides insights into one of the hottest markets in Canada.