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Jan 2019 CREB Stats

Jan 2019 CREB Stats

New Year Kicks Off With Slow Sales As economic challenges linger into 2019, housing markets remain on a sluggish pace. January sales totalled 804 units, 16 per cent below last year and 21 per cent below long-term averages for the month. “The slow start to the year does not come as a surprise, as concerns […]

2019 CREB Forecast

2019 CREB Forecast

January 30, 2019 – Today I attended the annual CREB Forecast, where we learn how our chief economist feels the next year will look like. Things to take away from today? Some people feel this year will be the same as last, with continued uncertainty regarding jobs, oil, government and pay cuts. Some, those of […]

Vigilance Urged When Considering Alternative Financing

Vigilance Urged When Considering Alternative Financing

The Real Estate Council of Alberta urges consumers considering alternative financing options to be vigilant when it comes to seller financing. While “traditional” lending may not always be an option when purchasing a home, there are things to be aware of if you go looking for financing outside of typical lenders. Incidents of fraud or […]

Dec 2018 CREB Stats

Dec 2018 CREB Stats

Job market weakness and lending restrictions a common thread in 2018’s housing market As oversupply continues in Calgary’s housing market, December prices eased by one per cent compared to last month and are over three per cent below last December. “Persistent weakness in the job market and changes in the lending market impacted sales activity […]

Making Condos a Better Place to Live

Making Condos a Better Place to Live

“About one out of every five Albertans lives in a condo and our government has their back. Last year, we unveiled stronger protections for condo buyers and now we’re introducing new rules to improve condo living. These new regulations will make life better for everyone in the industry, including condo owners, condo managers and condo […]

2019 Calgary Market Outlook

2019 Calgary Market Outlook

What is a buyer’s market? In a buyer’s market, inventory is high and readily available, keeping prices down. This has been the case in the condo market for the past couple of years. This is due to a saturated market, raising interest rates, the mortgage stress test, unemployment rates, and our reliance on the oil […]

Nov 2018 CREB Stats

Nov 2018 CREB Stats

Challenging economic conditions continue to impact the resale market Sitting below long-term averages, November sales in the city totaled 1,171 units. For the year so far, sales activity has totaled 15,349 units, a 14 per cent decline over last year and nearly 20 per cent below long-term averages. “Recent challenges in the energy sector have […]

Oct 2018 CREB Stats

Oct 2018 CREB Stats

Oversupplied Market Weighs on Prices Elevated inventory levels compared to sales, are causing prices to ease further in Calgary’s housing market. Citywide benchmark prices totaled $426,300 in October, trending down for the fifth consecutive month and resulting in a year-over-year decline of 2.9 per cent. Inventories and sales totaled 7,345 and 1,322 in October. This […]

Sept 2018 CREB Stats

Sept 2018 CREB Stats

Buyer’s market – is that a good thing? Well, that depends on your current situation. Are you a first-time home buyer? Do you have enough of a down payment? Are you selling as well? Are you willing to sell lower to buy lower? With no change in the economic climate, Calgary’s sales activity totaled 1,272 […]

How Millennials’ Lives Changed – Recession 2008

How Millennials’ Lives Changed – Recession 2008

I came across a great read that I couldn’t help but sharing – I wonder if you find it as interesting as I do. Courtesy of BuzzFeed News: A decade has passed since the bottom fell out of the economy in 2008. The resulting crisis — a period of staggering unemployment that peaked at 10%, […]