May sales activity continued to ease, with the largest declines occurring in the detached sector. Additional gains in new listings continued to increase inventory levels.

Citywide sales activity in May totalled 1,726 units, 19 per cent below last year's levels and 24 per cent below longer-term averages. Sales activity in the detached sector declined to levels not seen in over a decade.

"The impact of rising lending rates and stricter qualification levels is causing demand to ease across all product types," said CREB® chief economist Ann-Marie Lurie.

Economic growth forecasts paint cautiously optimistic picture for Calgary housing market

Calgary's housing market lives and breathes based on the whims of the city's overall economy.

While the city had an impressive gain of 6.9 per cent in economic growth in 2017 compared to 2016, according to the Conference Board of Canada, the economic engine will slow down this year and in 2019.

New B.C. speculation tax could prompt Albertan vacationers to look closer to home for second-property purchases

Scott Henderson has split his work time between clients in the Okanagan and those in his hometown of Calgary for the last 15 years.

Eight months ago, the marketing/communications agency owner got pre-qualified for a mortgage for a second residence in Kelowna. Then, this February, B.C.'s provincial government announced a speculation tax on out-of-province and foreign owners to discourage buy-up of housing by investors who, it claims, leave homes empty and drive up home prices. A homeowner can avoid the tax by living in, or renting out, the home half the year.

CREA voices concerns about home cannabis cultivation

As Bill C-45 continues its journey through the different levels of Parliament, the Canadian Real Estate Association (CREA) presented some feedback on how the legalization of cannabis would affect homeowners.
"We've heard from homeowners and tenants across the country who are worried about living beside grow-ops," said CREA president Barb Sukkau.

"What does this do to their home value? Will this increase their rent? How safe will their kids be? Will their quality of life diminish because of the prevalence of drugs in their neighbourhood? These are all concerns that need to be considered before the passing of Bill C-45."

How to buy a vacation home without getting burned

While sunburn can ruin a holiday, getting burned on a vacation home purchase can sting for much longer. Fortunately, doing your homework will help you find your place in the sun without feeling the heat.

"The market has seen price drops lately, so a lot of people are finding vacation properties at $300,000 or below," said Bill MacDougall, a real estate professional with Optimum Realty Group in Calgary.

Valuable information for prospective homebuyers

Canada's new mortgage qualification rules and how they could affect you

On Jan. 1, 2018, new mortgage rules came into effect. Under the new rules, Canadian mortgages are subject to stricter qualifying criteria. Ultimately, this means some buyers will have to settle for less expensive homes than they could have qualified for prior to the rule change – up to 20 per cent cheaper in some cases.

All homebuyers must now go through the mortgage stress test:

Lavish Bel-Aire property showcases local builder's talents, and what $6 million can buy in the Calgary luxury market

While the term showhome often denotes a certain level of sophistication, there are properties that take that refinement up a notch. And then there's Bel 35.

Constructed by award-winning builder Rockwood Custom Homes, the 6,400-square-foot home in the community of Bel-Aire isn't your average new build.

Eight tips to prepare your home for listing photos

There are many dramatic changes you can make when preparing a home for photos. Renovating a bathroom or kitchen can reap big resale rewards, while a fresh coat of paint or new siding can add serious curb appeal. But for those working with a limited budget or on a shorter timeline, there are more subtle changes that can have your house looking its best prior to an open house or having photos taken.

Artesia in Heritage Pointe merges luxury and landscape

Ordinarily, luxury and sustainability are not exactly two peas in a pod. However, Artesia at Heritage Pointe is no ordinary community. Situated just outside Calgary city limits south of the Bow River, the development combines urban and rural living, offering more space to roam, less maintenance and a tremendous sense of community, not to mention spectacular views.

"Our vision is to create a lifestyle community in the Heritage Pointe tradition that functions in tandem with the natural landscape and focuses on sustainability," said Bill MacDonald, project manager for land development at Heritage Pointe Properties.

You asked, we answered

The people have spoken! We asked you for your most pressing real estate questions, then threw them to our expert panel of experienced REALTORS®: John Hripko (Royal LePage Benchmark), Laura O'Connell (RE/MAX House of Real Estate), Sam Crick (RE/MAX Realty Professionals) and David P. Brown (The Real Estate Company Ltd.).