Sales activity remains well below long-term averages  

Elevated inventory levels in October contributed to a second consecutive month of price declines in Calgary's resale residential housing market.

Benchmark prices declined 0.7 per cent from the previous month, and 1.2 per cent from the same time last year, to $453,100.

"Persistent weakness in the overall economy continued to impact housing demand in Calgary as October sales were nearly 16 per cent below long-term averages," said CREB® chief economist Ann-Marie Lurie. "In addition, new listings did not decline enough to prevent inventory gains and, ultimately, price contractions."

Boomers see opportunities in growing city

Laura Routledge already had a lifetime of large-home living in her rear-view mirror when she first started thinking about moving to Airdrie

"I raised my two kids in Carstairs, so I (was) familiar with the area and watched it grow," said the 61-year-old. "I had a huge house in Chestermere and my husband passed away suddenly six years ago, so that was the incentive to downsize."

With a son and daughter-in-law already established in the growing city just north of Calgary, Routledge packed up her belongings, her two cats and hopes of a more tranquil life in Airdrie.

What's on the horizon for Calgary's skyline?

Despite much of the news coming out of Calgary's downtown being of the negative variety as of late, there are still developments moving forward. With construction cranes still littering the downtown skyline, CREB®Now takes a look at five developments coming to downtown Calgary in the near future.

The Hat
A 28-storey residential rental complex being built by Calgary-based Cidex Developments Ltd, The Hat will bring the first new rental accommodations to East Village. The family-friendly three-bedroom apartments will offer everything that a family needs, including on-site child care, all within easy walking distance.

City seeks regulatory direction on ride-sharing service

The City of Calgary has been conducting a covert operation to catch local drivers subscribing to the controversial Uber ride-sharing app.

The news, reported by several new agencies Friday, came shortly after City staff presented a report to the Taxi and Limousine Advisory Committee that asked for input on how to regulate private for-hire transportation companies.

City administration will present those options to council in mid November on ways to regulate private for-hire transportation companies.

New initiative highlights growing housing concern

The City of Calgary has embarked on a three-year strategy to develop a more "age-friendly" city in light of some estimates that have the local senior population nearly doubling within the next decade.

Dubbed the Seniors Age-Friendly Strategy, the plan calls for the creation of community networks focused on issues such as housing, transportation and mobility.

Proposed actions include increasing the provincial standard for provincially funded affordable housing from 10 to 15 per cent, advocating for sustainable provincial funding for the development of new affordable housing and introducing a Land Use Bylaw Amendment to allow for more secondary suites.

Renters with kids face uphill battle

After her marriage broke down in 2013, Kelly Farley needed to find a home to rent for her and her two teen daughters. She wanted to stay close to the northwest Calgary neighbourhood where the girls had grown up and to keep them in the same schools.

Eventually she found the main floor of a house; another tenant lived in the basement. It wasn't the best situation, but things got worse before they were better.

The basement tenant moved out and the landlord decided to sell the house. Then, just weeks after Farley moved out, the landlord relisted the main-floor unit — for more money than Farley had been paying, and more than she could afford.

"It was a grim search and I became desperate," said Farley of her house-hunting search. "When you have kids and you're going through a family breakdown, as a renter, all you want to know is that you have a safe, stable place to land."

Developer hands keys over to community 

Nearly two decades after it was first constructed, Panorama Hills' e-Community Centre is officially being handed over to the community in which it resides.

Genstar Development Co., the developer behind the northeast Calgary community, will turn over ownership of the two-and-a-half hectare private park to the Northstar Residents' Association, by way of a volunteer board of directors, on April 1, 2016.

The ownership change was part of a long-term plan after Genstar built the facility in the late 1990s. The developer agreed to maintain and operate the facility before handing over control to the Northstar Residents Association, which encompasses residents in Panorama Hills and neighbouring Hanson Ranch.

The original agreement had the cutover occurring on or before April 1, 2026.

Real estate group applauds exclusion of land transfer tax

The Alberta NDP plan to run a $6.1-billion deficit in 2015-2016, the largest in more than two decades, fueled primarily by increased infrastructure spending and the province's contracting economy.

In its provincial budget, released Tuesday, Finance Minister Joe Ceci also announced plans to borrow $712 million next year, which ends a nearly 20-year run of debt-free operations.

"This is the right budget for the right time," said Ceci, noting the party promises a return to balance by 2019-20.

Province to end public consultation of first phase Oct. 30

Albertans still have time to provide input on amendments to the province's condo property act, which is seeking to provide condo owners with easier access to information and quicker dispute resolutions.

Leading up to Oct. 30, Albertans are being invited to review and weigh in on updates to the Condominium Property Act by clicking here.

To review a draft copy of the first phase of regulations, click here.

Experts debate whether mini meeting spaces will replace traditional parks

You may have never heard of a parklet, but chances are good you've walked or driven past one. Maybe you've even sat in one, enjoying a coffee or a chat with a friend on a warm afternoon.

"You're taking a space that would normally not be a public space, maybe part of a road, and you're converting it," said Byron Miller, an associate professor of geography at the University of Calgary and co-ordinator of school's Urban Studies program.

"It's about expanding the public realm to create new spaces where people can interact."