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Stories Tagged - energy sector
News
Aug. 16, 2017 | Geoff Geddes
Trickle-down effect
How economic indicators actually drive the housing market
What do unemployment, migration and oil prices have in common? Apart from being touchy subjects at a party, they all influence the Calgary housing market to some extent. Understanding how and why that happens could provide an advantage when planning a home sale or purchase.
"In many cases the impact is indirect," said Ann-Marie Lurie, chief economist for CREB®.
One part of that impact relates to demand.
What do unemployment, migration and oil prices have in common? Apart from being touchy subjects at a party, they all influence the Calgary housing market to some extent. Understanding how and why that happens could provide an advantage when planning a home sale or purchase.
"In many cases the impact is indirect," said Ann-Marie Lurie, chief economist for CREB®.
One part of that impact relates to demand.
News
Jan. 09, 2017 | Jamie Zachary
Transition talk
Calgary housing market to see increased stability, signs of change in 2017: CREB®
The worst might be over for Calgary's housing market, according to CREB®, which is forecasting transitional conditions throughout this year on the back of renewed optimism in the oil patch.
The forecast, captured in the real estate organization's 2017 Economic Outlook and Regional Housing Market Forecast report, comes after more than two years of recessionary conditions that have been manifested by sales and price declines in virtually every corner of the local market.
The worst might be over for Calgary's housing market, according to CREB®, which is forecasting transitional conditions throughout this year on the back of renewed optimism in the oil patch.
The forecast, captured in the real estate organization's 2017 Economic Outlook and Regional Housing Market Forecast report, comes after more than two years of recessionary conditions that have been manifested by sales and price declines in virtually every corner of the local market.
News
Feb. 19, 2015 | CREBNow
'Too early to tell'
Longevity key to housing market during oil price recovery: CREB
It's still too early to tell how Calgary's resale housing market will respond to recent gains in the price of oil, said CREB® chief economist Ann-Marie Lurie.
"We have to see how long – if [oil prices] continue to move up, how much it moves up, when it stops ... That's what we're looking for. So it is still too early," she said.
After significant declines starting in October, oil prices started to see some improvements recently before another slight drop this week. West Texas Intermediate, a U.S. grade of oil used a benchmark for North American oil prices was just over $53 US a barrel this week after dropping to near $40 earlier this year and is off 43.32 per cent compared to the same time last year.
It's still too early to tell how Calgary's resale housing market will respond to recent gains in the price of oil, said CREB® chief economist Ann-Marie Lurie.
"We have to see how long – if [oil prices] continue to move up, how much it moves up, when it stops ... That's what we're looking for. So it is still too early," she said.
After significant declines starting in October, oil prices started to see some improvements recently before another slight drop this week. West Texas Intermediate, a U.S. grade of oil used a benchmark for North American oil prices was just over $53 US a barrel this week after dropping to near $40 earlier this year and is off 43.32 per cent compared to the same time last year.
