Patience required on the road to Calgary’s housing market recovery

Recent struggles in the job market, accompanied by yet another interest rate increase, is piling on to the decisions potential purchasers have to make in the housing market. The month of July saw 1,547 units sold in Calgary, nearly five per cent below last year. New listings eased to 2,964 units, causing inventories to total…

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A Bumpy Road to Recovery

Calgary housing market prices hold, but sales fall Residential home sales declined in February, but a decline in new listings helped keep prices steady this month. Sales totaled 1.094 units in February, 18 per cent below last year’s activity. Easing sales occurred across all property types this month, which outpaced the sales growth that occurred…

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Calgary Housing recovery is a real balancing act

Growth in new listings outpaced sales preventing inventory declines Sales posted a modest gain in August, but a rise in new listings kept inventory levels elevated. Inventories totaled 6,624 units, where over half were comprised of attached and apartment style properties. While inventories were 16 per cent higher than August 2016 levels, the slight rise…

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Mid-Year Calgary market update shows stability

The first-half of 2017 marked a shift in Alberta’s economy from recession to recovery, with conditions supporting stability rather than expansion. “Economic challenges continue to exist, as high unemployment rates, weak migration levels and more stringent lending conditions are weighing on the housing market,” said CREB® chief economist Ann-Marie Lurie. “This will continue to cause…

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Market remains balanced despite easing in absorption rates

Supply gain in apartment sector threatens to impact price Declines in residential housing sales activity eased in July, creating, when combined with stable inventory levels, no change to the month-over-month price. Year-over-year sales fell by 14 per cent to 1,995 units in July, compared to a 17.8 per cent decrease the previous month. Despite the…

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Housing market expected to be stable in 2015

While the recent drop in oil prices has caused speculation about implications for the housing sector, stable conditions are expected given current forecasts for employment and migration. “While employment and migration are expected to support housing demand, estimates could change depending on the extent and duration of oil price declines,” said Ann-Marie Lurie, CREB®’s chief…

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