BMO specialist Laura Parsons highlights often-overlooked programs for first-time buyers

Price is the deciding factor for many young adults who are purchasing their first home.

This isn't necessarily a bad thing; but you actually risk taking a financial hit when you fixate solely on what you think you can afford, said BMO mortgage specialist Laura Parsons.

"Millennials tend to migrate to affordability instead of understanding their options," said Parsons, who has more than 30 years of mortgage experience.

Calgary couple's research, timing pays off during first home purchase

Booker and Lisa Zaytsoff didn't take the plunge into homeownership lightly.

About a year ago, the young couple started to investigate the marketplace, getting a read on what was happening – all the while putting away money for a down payment.

"Finally, we had enough saved up so decided to buy — something that, for us, had always been in the cards," said Booker. "What was important for us was location and price. The fact mortgage rates were low was a bonus."

Former CREB® president Ron Stanners recalls local housing industry slows down slightly in 2007 after break-neck speed years prior

Over the past five decades, Calgary's real estate industry has been bare to it all – from double-digit interest rates to densification. As part of an ongoing series, CREB®Now continues to weave together an incredible narrative of how the local housing industry has evolved through the unique perspectives of CREB®'s 30 remaining past presidents.

Following two "absolutely crazy" years in Calgary's real estate market, Ron Stanners almost looked forward to the slightly slower pace when he became CREB® president in 2007.

"It was a good year, but it was not the boom of the years before," he said.

"The first half of the year had good, solid sales. Then, sales did slowdown in the latter half. That's normal, but they slowed more than normal."

Provincial decline led the country

Spending on new residential construction in Alberta totalled $738.3 million in April, down from the $1.025 billion seen the previous April, according to the latest numbers from Statistics Canada.

The 28 per cent decline was the largest fall of any of the provinces, with decreased investment occurring in all dwelling types – although the decline was mainly due to lower spending on single-family dwellings.

In total, spending on new housing construction decreased in five provinces in April. Alberta was followed by Saskatchewan and Manitoba.

Index drops by 1.2 per cent in May

After a period that saw Calgary's vacancy rates at virtually zero and rents among the highest in Canada, renters in the province's two largest cities are now seeing the outcome of Alberta's economic downturn in the form of lower prices, according to a new report.

The latest data from the Consumer Price Index shows renters in Alberta's two major cities might be getting a break. The May 2016 index in Calgary has dropped by about 1.2 per cent from the peak it hit in September of last year. Rents in Edmonton have dropped by 0.3 per cent.

Housing officials cite increasing rates of overcrowding in Calgary's housing market

Housing experts say a soft labour pool brought upon by weak economic conditions is partly to blame for increasing rates of overcrowding, or "underhousing" in Calgary homes.

RESOLVE executive director Sheryl Barlage – whose organization is made up of nine partner agencies aimed at building affordable and supported rental homes for 3,000 homeless and vulnerable Calgarians by March 31, 2018 – says about 3,500 Calgarians were considered homeless in a recent Homeless Foundation survey, with about 14,000 at risk of homelessness – and that doesn't include people "couch-surfing."

With the economic downturn, "we know fundamentally that number is up. It's hard to get a handle; people are one paycheque away (from homelessness) or aren't in appropriate housing. And the current economic climate (as well as) social issues are impacting the need. But the need has always been urgent."

Five tips on how to add some wow factor to your outdoor space

It is possible to plant your balcony using leftover plastic containers and old grocery bags. That said, it is also possible to wear old coffee sacks as clothing.

If you want beauty on your balcony or your body, plan ahead and look for the right pieces to make a statement because even a small space deserves to be beautiful.

Here are five tips to boost your balcony's beauty this spring:

1. Cover the balcony floor

If you have old, tired outdoor rugs or a concrete balcony, laying outdoor floor decking can quickly change the ambiance. Outdoor floor decking can be cut to size to fit your space. It doesn't need to be glued down, so it is easily lifted for winter or when you move. If your balcony is the same size of a woven plastic rug, skip the wood floor and buy a new area rug to cover the existing surface.

Residents highlight best-kept secrets in M.D. of Foothills

Directly south of Calgary lies the Municipal District of Foothills, a scenic area replete with expansive landscapes featuring rolling hills and ranch lands.

Home to several growing communities – including Okotoks, High River, Black Diamond and Turner Valley – the historic region is also the setting for its fair share of hidden gems.

CREB®Now chatted with several regional leaders to get their takes on some of the district's best-kept secrets. Here's what they had to say:

Housing professionals say upscale communities such as Heritage Pointe showing staying power

The lure of the luxury lifestyle is still drawing homebuyers to exclusive communities in and around Calgary despite some challenges in the local economy, say industry professionals.

Albi Homes community manager Amy Koehn notes Artesia in Heritage Point south of the city, for example, "is one of our busiest communities. It's very consistent and there's a lot of traction with the product here."

Koehn cites the community's lower density and larger lot sizes as motivators to buy in upscale communities such as Heritage Pointe.

Builders busy in surrounding region

Homebuilders and developers continue to be active in the surrounding area, with a number of new, highly anticipated communities under various stages of development.

CREB®Now takes a closer look at several noteworthy projects currently underway:

Harmony in Springbank

Harmony, located west of the City adjacent to the TransCanada Highway, is a joint-venture management partnership between Bordeaux Developments and Qualico Communities. The master-planned community will not only have 3,500 homes when all is said and done, but will also have its own village retail core and a large lake and wetland area.