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Stories Tagged - Housing Starts

Courtesy Hon Developments

Oct. 02, 2019 | Mario Toneguzzi

Despite oversupply, Calgary new-build condo market is moving in the right direction

For the past couple years, the Calgary condo market has been plagued by elevated inventory, but there has been some improvement in that area over the past year.

Let's look at some key stats that have defined the condo market so far this year in Calgary.

Getty Images

Jan. 30, 2018 | Geoff Geddes

Adjusting expectations

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."

According to CMHC, the total number of home completions in the Calgary region for January and February combined was up, but absorption is down . CREB®Now file photo.

April 01, 2016 | Mario Toneguzzi

Trickle-down effect

New home industry to impact inventory, prices

Homebuyers could be in for more good news over the next several months as industry experts predict oversupply from the new home industry will create more selection and overall price softness.

"With the number of units still under construction, we do expect inventories to continue moving higher in the next couple of months," said Richard Cho, market analyst in Calgary for Canada Mortgage and Housing Corp. (CMHC). "I think the impact that would have on the overall housing market and the resale market is more choice for buyers."

Cho added the number of units still under construction remains elevated, which will lead to the rise in inventory levels.

Falling oil prices and decrease of petroleum costs concept as a barrel pouring out black liquid shaped as a downward chart arrow as a metaphor for energy stock market decline and loss due to the economy and the new green energy industry.

Jan. 12, 2016 | Joel Schlesinger

'Just the pre-show'

Global glut for oil means Alberta economy is expected to struggle in 2016 – and Calgary's housing market along with it

Alberta's energy sector has only felt the tip of the blade, say experts, who anticipate the worse is still to come.

"Unfortunately, the story is not positive – and it's not over for Calgary by any stretch of the imagination," said CIBC deputy chief economist Benjamin Tal.

"I think that 2015 was just the pre-show, and we're going to see most of the damage, at least, in the first of half of 2016."

Morning News Rundown

Nov. 21, 2014 | CREBNow

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Nov. 10, 2014 | CREBNow

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Sept. 09, 2014 | CREBNow

Canadian starts increase in August

Housing starts across the country saw a slight increase in August according to the Canadian Mortgage and Housing Corp. (CMHC).

The corporation said the trend measure of housing starts in Canada was 189,837 compared to 189,596. The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts.
Morning News Rundown

Sept. 03, 2014 | CREBNow

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Aug. 13, 2014 | CREBNow

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July 09, 2014 | CREBNow

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