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Stories Tagged - Vancouver

News

Sept. 02, 2016 | CREBNow

Housing affordability in Calgary contrasts with national picture

RBC releases new housing trends, affordability report

Despite signs of a modest recovery in home resale activity, Calgary's housing market continued to struggle amid plentiful supply of homes available for sale, declining prices and softening demographics fundamentals, according to RBC Economics' recent Housing Trends and Affordability report.

RBC said its cost-of-ownership measure for Calgary rose by 0.3 percentage points in the second quarter to 33 per cent of a typical family's pre-tax income, still well below the long-term average of 40.4 per cent for the area.

Both the single-detached and condo segments registered small improvements.

News

Aug. 15, 2016 | CREBNow

National homes sales post third consecutive decline

Prices exhibit resilience, record biggest gain since 2006


National home sales declined for a third consecutive month in July, according to statistics released today by the Canadian Real Estate Association (CREA).


The number of homes trading hands via Canadian MLS® Systems fell by 1.3 per cent month-over-month in July 2016. With similar monthly declines having been posted in May and June, national sales activity in July came in 3.9 per cent below the record set in April 2016. (Chart A)


Sales activity was down from the previous month in slightly more than half of all markets in July, led by Greater Vancouver and B.C.'s Fraser Valley. Transactions in these two markets peaked in February of this year, and have since then dropped by 21.5 and 28.8 percent respectively.


News

June 30, 2016 | Jamie Zachary

Calgary MLS® prices expected to rise in 'balanced' market

Sellers' conditions in B.C., buyers' in Saskatchewan

A new report from the Conference Board of Canada says balanced conditions in Calgary's resale housing market are expected to create price gains in the coming months.

In its June Metro Resale Snapshot, the organization anticipates the city's MLS® price will increase between zero and 2.9 per cent over the short term. In May, the house price in Calgary was $465,840, up 1.1 per cent from April and 2.3 per cent from a year ago.

Study author Robin Wiebe classified Calgary's housing market as balanced, noting sales volumes in May increased by 1.6 per cent on a month-over-month basis, while listings declined by 1.9 per cent.

Paul and Jill Robert, pictured with their daughter, are currently building a laneway home in West Hillhurst for Jill's parents, who were looking to be closer to family. Photo by Michelle Hofer/For CREB®Now
News

March 31, 2016 | Joel Schlesinger

Little house on the alley

Laneway homes could soon turn Calgary's back alleys into thriving mini-communities

Paul and Jill Robert have big plans for the little home they're building on their back lane.

Only the dwelling isn't for them. The Roberts already live in the wartime house in the northwest neighbourhood of West Hillhurst on the same lot where Paul, a professor at the Alberta College of Art and Design, grew up.

Instead, the diminutive back-lane house is for Jill's parents who are selling their home in Edmonton and moving to Calgary to be closer to family.

News

Jan. 29, 2016 | Cody Stuart

Interest-ing times

Bank of Canada's overnight lending rate exposes disparities in Canada's housing markets

The Bank of Canada's decision to leave its overnight lending rate unchanged at 0.5 per cent is expected to have vastly different impacts on markets across the country, say experts.

The bank's decision to stand pat on the rate it established last July instead of downgrading it by 0.25 per cent will do little to help revive what's expected to be a sluggish economy in 2016, said BMO Financial Group chief economist Douglas Porter in an interview with CREB®Now.

"It's certainly not going to be enough to turn around Calgary," he said. "Is it enough to revive the Canadian economy? No, a quarter point is not going to do it. But there's only so much a central bank can do without risking other things, and I think we've seen those risks in the past year."

News

May 06, 2015 | CREBNow

Calgary's millennials

Two young professionals living in the inner city versus suburbia

Calgarian Crystal Scriven went five years without a car until purchasing one last September.

Her deference to driving came down to her needs at the time, but also personal preference – a sentiment shared by a growing number of young adults, suggests Zipcar's annual Millennial Survey.

The survey, released last month, found 45 per cent of millennials – the most popular definition of which is someone born between the early 1980s and early 2000s – are making a conscious effort to reduce how much they drive.
News

Nov. 26, 2014 | Cody Stuart

Here and there

Demographics helping to distinguish Calgary market as Canada's leader

Calgarians need not be defensive about their hometown's place amongst Canada's preeminent cities, at least not when it comes to the world of real estate.

Having seen a rise in sales and prices, Calgary's housing market has been experiencing the same prosperity seen in Vancouver and Toronto – a trio billed as the "hot three" in a recent report from BMO Capital Markets.

There are, however, conditions that separate our city from the housing hot spots to the east and west.
News

May 07, 2014 | CREBNow

Morning news rundown

News

Dec. 05, 2012 | CREBNow

Morning news rundown

Morning News Rundown
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Aug. 22, 2012 | CREBNow

Morning News Rundown

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CREB® acknowledges that its office is located, and that its REALTOR® members serve, on the traditional territories of the peoples of the Treaty 7 region and Métis Nation of Alberta, Region 3. We honour and acknowledge the members of the Métis community and specifically, the Métis Nation Region 3. In the spirit of reconciliation and because we are all treaty people, we also acknowledge all Calgarians who make our homes in the traditional Treaty 7 territory of Southern Alberta.


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