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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

Feb. 01, 2016 | CREBNow

Housing market remains unchanged in January

Slow sales activity and inventory gains place downward pressure on prices

Calgary's housing market is starting 2016 firmly in buyers' market territory, much the same as last year ended, according to CREB®'s monthly housing summary for January.

"The recent slide in energy prices has raised concerns about near-term recovery prospects for the city," said CREB® chief economist Ann-Marie Lurie. "Energy market uncertainty and a soft labour market are weighing on many aspects of our economy, including the housing sector."

City wide, January sales totaled 763 units, 13 per cent below last year and 43 per cent below long-term averages. While new listings declined by 16 per cent compared to January 2015, the number of new listings far outpaced the sales, causing inventory gains. January's city wide months of supply levels rose above six months.

Jeff Roth, who is the general manager of DEKORA Staging's Calgary location, said staging a home can cost as little as $2,000. Photo by Adrian Shellard/For CREB®Now

Jan. 25, 2016 | Rose Ugoalah

From 'for sale' to 'sold'

The art of selling your home quickly

What separates a home that sits on the market for months from one that's sold in a week? Industry experts say it comes down to properly executing proven strategies and techniques.

Calgary-based real estate agent Christina Hagerty with Re/Max Realty Professionals, who has been working the industry for more than two decades, said homes that sell quickly in this market tend to have sellers who are willing to do what needs to be done quickly – even if that means cancelling poker night for a last-minute showing.

She added motivated sellers also know the market before they list – meaning they won't waste money on things such as unnecessary pre-sale renovations.

CREB® president Cliff Stevenson. Photo by Michelle Hofer/for CREB®Now

Jan. 14, 2016 | CREBNow

Five questions with CREB® president

CREB®Now sits down with incoming president Cliff Stevenson 

Softness in the provincial economy is expected to challenge Calgary's resale residential housing market in 2016. How will the market react?

CREB®Now recently had a chance to sit down with CREB®'s incoming president Cliff Stevenson to ask him five questions about the local housing industry in the year ahead.

CREB®Now: ?How will buyers and sellers react in what's expected to be a down economy?

Stevenson: Sellers are going to be more choosy with their timing in this calendar year. Someone who is working with a real estate professional is going to spend a lot more time on strategy with respect to pricing and timing. And buyers, especially first-time buyers and investors, will do their best to time the bottom, but I think that will be really difficult. So, I think this year it will be the guessing game by first-time buyers and investors of when will be the best time to get into the market. But I would suspect there are going to be some challenges with that.

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

Jan. 12, 2016 | Cody Stuart

On the horizon

Resale housing market expected to navigate ominous conditions in 2016

The year was 2014. The price of oil was soaring sky high, and, like so many other sectors, Calgary's housing market was along for the ride.

What a difference a few years make.

Following the collapse of worldwide oil prices and subsequent cooling of the city's once red hot housing market, the arrival of 2016 now finds Calgary in a time of uncertainty.

In its 2016 Economic Outlook & Regional Housing Market Forecast, CREB® expects resale sales activity to decline by 2.2 per cent from 2015 levels to 18,416 units, and the benchmark price by 3.44 per cent to $438,652.

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