Calgary's commercial real estate market could be poised for a rebound in 2018

All eyes will be on Calgary's commercial real estate market this year, with hopes that the downtown office sector, which continued to struggle in 2017, will rebound in 2018.

The office market has grabbed everyone's attention over the past three years, as vacancy rates have soared to historically high levels following the collapse of oil prices and the subsequent waves of layoffs that ravaged employment ranks in downtown Calgary. Thousands of people were cut loose, and a vast amount of office space suddenly became vacant in the downtown core.

Adversity in condo market to continue in 2018

If you're a condo owner in Calgary, you may be telling yourself that "what goes down must come up," but it's a fine line between thoughtful analysis and wishful thinking.

"The condo-apartment sector is still facing a lot of challenges," said CREB® chief economist Ann-Marie Lurie.

"While sales improved in 2017, it wasn't enough to keep pace with new listings, so we still had price declines."

New developments on Calgary's western edge hope to raise the bar for active, outdoor living

Two major developments in Calgary's northwest will soon solidify the area's reputation as the gateway to Rocky Mountain recreation and winter adventure.

While the nearby Trans-Canada Highway will guide future residents towards mountain playgrounds in Canmore and Banff, the communities of Rowan Park and Medicine Hill will offer their own built-in recreational amenities.

Calgary housing market to see more of the same in 2018, as sales activity holds steady and listings ease

In 2018, the Calgary housing market will face a new reality of slower growth amidst higher interest rates and more restrictive mortgage lending rules.

While that new reality should be moderated by a modest uptick in the still-recovering local economy – assuming continuation of the job growth and net migration recorded last year – CREB® anticipates flat sales and prices for resale product compared to 2017.

2017 brought positive news for the new-home market, but there's still room to improve

Will 2018 bring good news or bad news for Calgary's new-home market? As with many aspects of the real estate market, it depends on your focus.

"Looking at Canada Mortgage and Housing Corp. data, we saw an improvement in starts in both the single- and multi-family sectors in 2017," said CREB® chief economist Ann-Marie Lurie.

Smarter Growth Initiative aims to educate public about homebuilding and development industry

Guy Huntingford knows the value of providing people with useful and interesting information.

After all, the CEO of BILD Calgary Region was once in the newspaper business, as a publisher at both the Calgary Herald and the Calgary Sun.

That background gave him the spark needed to put together the Smarter Growth Initiative, a BILD-affiliated entity whose tagline is "fostering conversation about urban development," nearly four years ago.

December sales activity rises again, but so does supply

Sales activity for all product types improved in December and pushed monthly sales to long-term averages for the second month in a row.

However, new listings also rose, keeping inventory elevated compared to typical levels for December. With more supply remaining compared to sales, benchmark prices edged down for the fifth consecutive month.

Redeveloped Prairie Winds Park is a vital community hub in northeast Calgary

Wander into Prairie Winds Park in northeast Calgary any summer day and you'll see children enjoying the wading pool, families playing cricket or having a picnic, and people on the tennis courts. In the winter, people are out tobogganing, skating and enjoying the great outdoors in the popular regional park.

Prairie Winds Park opened in 1990, but recently underwent a complete redevelopment, says Michelle Wong, who worked on the project as capital lead for Calgary Parks.

Calgary's new northeast offers exciting opportunities and value for homebuyers

"A full, master-planned community destination." That's how Mattamy Homes vice-president of sales and marketing Warren Saunders describes Calgary's expanding – and evolving – northeast quadrant.

"That means choice for homebuyers," he said, noting that wasn't always the case in decades past.

In the "new northeast," Saunders says the expanding range of housing options allows different generations of homebuyers to remain in that sector of the city throughout their lives.