Stories Tagged - Tom Westcott
Dec. 19, 2018 | Geoff Geddes
As he wraps up his one-year term as CREB® president, Tom Westcott reflects on the challenges and changes that made for a memorable 2018.
Oct. 24, 2018 | Kathleen Renne
In 2018, CREB® welcomes longtime Calgary REALTOR® and industry veteran Tom Westcott as the organization's new president. Westcott sat down with Kathleen Renne for CREB®Now to talk about his career in the industry, his passion for real estate and his thoughts on the Calgary housing market in 2018.
July 04, 2018 | CREBNow
The recent mortgage rule changes and higher lending rates are factors weighing on demand and prices across some of those areas.
June 06, 2018 | CREBNow
Citywide sales activity in May totalled 1,726 units, 19 per cent below last year's levels and 24 per cent below longer-term averages. Sales activity in the detached sector declined to levels not seen in over a decade.
"The impact of rising lending rates and stricter qualification levels is causing demand to ease across all product types," said CREB® chief economist Ann-Marie Lurie.
May 02, 2018 | CREBNow
Changes to the lending industry and a challenging economic recovery are weighing on sales activity in Calgary's housing market.
Supply levels have not adjusted to the weaker demand environment, and that is preventing price recovery.
"Slower sales do not come as a surprise, given the economy has not yet improved enough to offset the impact of changes in the lending industry," said CREB® chief economist Ann-Marie Lurie.
"While the rising inventories are being monitored, prices have remained relatively flat as gains in some areas of the city have been offset by declines in other areas."
April 04, 2018 | CREBNow
As expected, slow sales this quarter have persisted through March in the City of Calgary. This is not a surprise, after stronger growth in sales at the end of last year following the announced changes to the lending market.
First quarter sales totaled 3,423 units, nearly 18 per cent below last year's levels and 24 per cent below long-term averages. Easing sales and modest gains in new listings caused inventories to rise and months of supply to remain above four months.
March 07, 2018 | CREBNow
Residential home sales declined in February, but a decline in new listings helped keep prices steady this month.
Sales totaled 1,094 units in February, 18 per cent below last year's activity. Easing sales occurred across all property types this month, which outpaced the sales growth that occurred in January. After the first two months of the year, sales activity remains well below longer-term averages.
Feb. 07, 2018 | CREBNow
The new year opened predictably, with monthly figures close to the Januarys of the past three years.
With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector.