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While final numbers have yet to be reported, CREB® expects Calgary’s housing market to have behaved by year’s end as first forecasted. At the end of November, sales in the city had declined by slightly more than six per cent, while benchmark price had fallen just under four per cent to $333,318. CREB®Now photo

2016 year in review

Dec. 21, 2016 | Jamie Zachary


Stories Tagged - CREB president Cliff Stevenson

Year-to-date detached sales have declined by three per cent compared to last year, said CREB®. CREB®Now file photo

Dec. 01, 2016 | CREBNow

November sales slide into old patterns

Detached prices dip below $500,000 for first time since 2014

Coming off a month of stronger sales activity, November's resale residential housing market returned to previous trends, according to CREB®.

In its November housing summary released Dec. 1, year-over-year monthly sales totaled 1,227 units, which is nearly three per cent lower than last year and 17 per cent below long-term averages.

"November was the first full month with CMHC's new lending rules in effect," said CREB® chief economist Ann-Marie Lurie. "As suspected, the gains in last month's sales were temporary. Stringent conditions for borrowers are converging with the current economic climate and weighing on demand."

Nov. 01, 2016 | CREBNow

Home sales rebound in October

CREB® points to mortgage rule changes as motivator

For the first time in two years, resale residential housing sales activity in October resembled normal levels, according to a new report.

City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year, reported CREB® in its monthly housing summary.

"The shift in sales activity this month is likely related to the new mortgage rule changes, inventory gains in the lower price ranges and further price adjustments," said CREB® chief economist Ann-Marie Lurie.

CREB®Now Archive

Oct. 03, 2016 | CREBNow

Detached prices stabilize in soft market: CREB®

New listing levels starting to match sales

A new report indicates the segment of Calgary's resale residential housing market with the greatest influence on the overall market is showing signs of pricing stability.

The detached benchmark price totaled $503,400 in September, which is 3.3 per cent below last year, but the second consecutive month at this price level, reported CREB® today.

While overall economic conditions remain soft, for now the detached sector is demonstrating some steadiness in terms of pricing, the member-based organization said.

Jennifer Weisgerber and Ian Muller rented a townhome in Okotoks for five years before building a three-bedroom home in Auburn Bay last January. Photo by Wil Andruschak/For CREB®Now

Sept. 19, 2016 | Alex Frazer Harrison

From the ground up

Housing experts urge buyers to consider all the options before building, buying 

For Jennifer Weisgerber and Ian Muller, both 25, buying – and building – their first home has been the most important decision of their lives.

Muller, who installs fire sprinklers, and Weisgerber, who works for a company that sells parts for road construction, rented a townhome in Okotoks for five years. Last January, they signed with Morrison Homes to build a 1,700-square-foot three-bedroom home in the southeast Calgary community of Auburn Bay.

Pricing in Calgary's detached housing market has remained relatively stable in recent months due to more balanced conditions, says CREB®. Supplied photo

Sept. 07, 2016 | Jamie Zachary

Reading between the lines

Districts, housing types tell different stories about Calgary's housing market in August

Fewer new listings within Calgary's resale residential housing market continued to moderate price declines last month, according to new statistics.

Yet experts note what's arguably more interesting is how the interplay between new listing levels and prices within the city's districts, and even housing types, are providing consumers with some much-needed intel on their next purchasing decision.

Sept. 01, 2016 | CREBNow

Housing market tells different stories in August

Detached versus higher-density segments paint different pictures of health

Overall resale residential housing sales activity in Calgary was down again in August, totalling 1,567, reported CREB® in its monthly housing summary.

However, the organization noted this figure does not reflect the big differences in activity between the detached sector, versus the high density apartment and attached segments of the market.

Aug. 26, 2016 | Mario Toneguzzi

Surprise, surprise

Experts provide feedback on Calgary's real estate market so far

It has been an interesting year for the Calgary real estate market considering the city's economy is still struggling due to ongoing uncertainty in the energy sector.

According to CREB®, year-to-date, until the end of July, MLS® sales of 10,952 were down 10.1 per cent compared with the same period a year ago. New listings of 21,191 were off by 2.23 per cent, but active listings of 5,847 were up by 9.64 per cent.

The average MLS sales price of $479,597 increased by 1.2 per cent. However, the benchmark price was down 3.68 per cent to $443,386.

Some housing and business experts were asked what has been the most surprising thing this year about the Calgary real estate market. Here are their responses:

Sales activity on the MLS® System outpaced original estimates during the first six months of 2016, declining by 10 per cent to 9,205 units, noted CREB®.

Aug. 10, 2016 | Jamie Zachary

Moving forward

CREB®'s mid-year update cites tough start to 2016, forecasts continued challenges moving forward

Calgary's housing market will continue to battle recessionary conditions during the second half of 2016, but the worse might be behind it.

That's the word from CREB® as it released a mid-year update to its annual Economic Outlook & Regional Housing Market Forecast.

"With no near-term changes expected in the economic climate, housing demand is expected to remain weak for the second consecutive year as resale activity is forecasted to decline by eight per cent in 2016," said CREB® chief economist Ann-Marie Lurie, who authored the report.

Multiple reports have the number of seniors in the country doubling 2011 levels by 2036. CREB®Now illustration

July 18, 2016 | Jamie Zachary

A return to balanced

Indicators suggests Calgary's housing market might be evening out

New housing market statistics are reinforcing the emergence of so-called balanced conditions in Calgary.

In its monthly stats package for June, CREB® noted key segments of the local market are seeing increased price stabilization brought upon by more moderate sales declines and listing increases.

CREB® chief economist Ann-Marie Lurie singled out last month's detached sector, which saw new listings decline at a faster rate than sales (five and 3.7 per cent, respectively) for only the second time in the past 12 months – the last time coming in January. As a result, the sector's benchmark price totaled $502,400, which was 0.4 per cent higher than May, yet still 3.4 per cent lower than last year's levels.

July 04, 2016 | CREBNow

Home prices down, not out

Resiliency in the detached and semi-detached markets temper price fluctuations

Calgary home prices continue to slide in most areas of the market, but not at the rate that many might expect, reported CREB® in its June housing summary. (Click here for the full report.)

CREB® partly attributed June's stats to resiliency in the detached and semi-detached sectors of the market, where sales compared to new listings and standing inventory started returning to more balanced levels.

"The detached market has been gradually moving towards more balanced conditions, helping to prevent price levels from declining at the faster rates we saw in the previous two quarters," said CREB® chief economist Ann-Marie Lurie. "While this is welcomed news for sellers, it's very likely that pricing challenges will persist in the housing market until economic conditions start to improve."

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