Last month I made a special note of the fact that first-time buyers were busy in May, with a 30% increase in first-timers over last year. This story in the Herald reinforces it:
The real estate market in Calgary is supported by three important factors, any of which would support a robust market independently and yet we enjoy all three,” said Cody Battershill, a realtor with RE/MAX House of Real Estate in Calgary. “The underlying variable that ties all three together is the desirability and quality of living we enjoy in Calgary.”
The first factor is strong migration to Calgary and Alberta.
“The second is Calgary’s demographics. We are Canada’s youngest major city with the average Calgarian being in their mid to late 30’s. This is important as first-time buyers kick start the property ladder and enable existing homeowners to sell and move up,” he said.
“The third factor is that Calgary is a head office leader and business hub that is recognized internationally for our experience, technical prowess and leadership. Calgary has more head offices per capita than anywhere else in Canada and is the world’s 17th most competitive financial centre.”
Read more: House price growth best in Canada
also, from BMO: Prices remain stable, perhaps maddeningly so for the legions of bubble mongers. The ceiling can’t hold us
Bob's real estate blog 
Do you think the flooding will have a serious dent in the market or will things keep right on going?