As real estate technology continues to rapidly evolve, Pillar 9 was created to maximize the value of housing data for REALTORS^® and real estate consumers.

What a difference three months makes.

Restrictions in place to slow the spread of COVID-19 have altered almost all standard practices, including real estate transactions. So, if you're buying or selling a home, things look a little bit different.

Typically, REALTORS® hold open houses to attract a crowd. However, thanks to the COVID-19 pandemic and a new emphasis on social distancing, this home-selling staple just won't do.

Hiring a REALTOR^® when purchasing a resale home seems like a no brainer, but many new-build homebuyers don't take advantage of this valuable resource.

Smallest year-over-year decline since 2014

Residential resale housing activity declines in the province eased last month, falling by 3.8 per cent to 4,611 units, according to the Alberta Real Estate Association.

The provincial organization noted September represented the smallest year-over-year decline since December 2014.

Meanwhile, the average MLS® residential price in Alberta rose 3.9 per cent from September 2015 to $396,646.

RECA emphasizes top priority is consumer protection

The Real Estate Council of Alberta (RECA) is reminding real estate professionals in the province to always discuss deposit arrangements with their clients in response to one Calgary brokerage recently closing and another one winding down operations.

The provincial regulatory body also advised professionals in the province to continue showing sellers' listings, even if they are listed by a brokerage that is shutting down, and to let buyers into their listings.

RECA communications manager Natalie Scollard said the organization's primary role when a brokerage shuts down is consumer protection.

Development standard finds its way back into the Calgary region

When is a detached home still a condo? When it's a bare land condo, an under-utilized development standard that is once again sprouting up in the Calgary region.

Developers in new areas such as Watermark in Bearspaw and Shawnee Park are designating some or all of their respective developments as bare land condos as part of a more collective approach to building and maintaining communities.

Bare land condos have previously popped up in other area communities such as Tanglewood Estates, The Lake at Heritage Pointe, Okotoks Air Ranch, Elmont Green and Lott Creek Grove.

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.