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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Positive start to the new year

On the heels of a strong year of sales growth, January sales in the city of Calgary totaled 1,440 units, a 17 per cent increase over the previous year. “Sales growth continues at the double digit pace seen over the later portion of 2013, mostly due to the gains in the condominium sector,” said CREB®…

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New Home Buyer Protection Act Of Alberta

In early 2014, the New Home Buyer Protection Act will come into force. The intent of the legislation is to improve consumer protection and recourse options, increase builder accountability, and raise the standard of residential construction in Alberta. While the Act does not place any new obligations on Alberta’s REALTORS®, this article discusses important aspects…

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Tightened housing supply curbs Calgary sales volume

Calgary, April 2, 2013 – 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…

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CREB® monthly statistics: November 2012

Calgary resale market remains in balance while Inventories continue to fall, but sales growth eases to keep market stable. Residential sales in the City of Calgary have increased by 15 per cent on a year-to-date basis, and were up 8-per-cent in November compared to the same month in 2011. Nearly eight consecutive months of double-digit,…

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Calgary housing market does not show signs of slowing

Year-over-year sales growth remains in double digit territory Calgary, Nov. 1, 2012 – City of Calgary sales activity marked a 23-per-cent increase over levels recorded in October 2011. The continued improvement in sales has pushed year-to-date sales activity to nearly 16-per-cent above levels recorded in 2011. “Relative to national trends, we continue to move in…

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Calgary area sales and price growth continue, despite national trends

Resale market continues slow and steady recovery Calgary, Oct. 1, 2012 – Residential sales activity continues to improve in the Calgary area, as year-over-year sales for the month of September increased by 11 per cent. After the first three quarters of the year, residential sales within city limits totaled 17,018, a 15-per-cent increase over 2011.…

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Calgary real estate bucks national trend

Calgary, August 1, 2012 – Calgary continues to buck national housing sale trends. The 1,936 residential units sold in July represent a 21.3-per-cent increase over 2011. “Recent mortgage rule changes prompted much discussion of a national housing correction. While the two largest cities (Vancouver and Toronto) have started to witness declines in home sales activity,…

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