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Feb 2019 CREB Stats

Feb 2019 CREB Stats

Housing market feels the chill as oversupply continues The effects of Calgary’s economic climate continue to create weak sales activity and elevated inventory in the city’s housing market. As a result, prices are being affected. “It is not a surprise that slowing activity in the housing market has persisted into February,” said CREB® chief economist […]

Okotoks: Small-Town Charm

Okotoks: Small-Town Charm

If you have ever thought to yourself, I don’t want to live in this big of a city, but can not live without all the amenities – Okotoks could be for you! Despite market setbacks and price drops in nearby Calgary, the Okotoks housing market managed to emerge relatively unscathed from 2018. Okotoks is a […]

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 […]

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 […]

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 […]

Aug 2018 CREB Stats

Aug 2018 CREB Stats

City of Calgary, September 4, 2018 – Easing sales, gains in new listings and elevated inventory levels continue to slow Calgary’s recovery in the housing market in August. Persistent oversupply in the Calgary housing market continued to weigh on prices in August. Citywide benchmark prices edged down over previous months by 0.8 per cent and are […]

Mid-Year Market Update

Mid-Year Market Update

“Stricter lending conditions, a rise in interest rates, persistently high unemployment and slow economic recovery have weighed on housing demand so far this year. Home sales have eased more than anticipated so far in 2018, as economic conditions did not improve enough to offset changes in the lending market. Inventories rose and the oversupply resulted […]