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Stories Tagged - housing

Residential resale housing activity declines in the province eased last month, falling by 3.8 per cent to 4,611 units.

Oct. 24, 2016 | CREBNow

Alberta home sale declines eased last month

Smallest year-over-year decline since 2014

Residential resale housing activity declines in the province eased last month, falling by 3.8 per cent to 4,611 units, according to the Alberta Real Estate Association.

The provincial organization noted September represented the smallest year-over-year decline since December 2014.

Meanwhile, the average MLS® residential price in Alberta rose 3.9 per cent from September 2015 to $396,646.

RESOLVE executive director Sheryl Barlage says the economic downtown is impacting overcrowding in Calgary homes. Photo by Wil Andruschak/For CREB®Now

June 23, 2016 | Alex Frazer Harrison

Over-under

Housing officials cite increasing rates of overcrowding in Calgary's housing market

Housing experts say a soft labour pool brought upon by weak economic conditions is partly to blame for increasing rates of overcrowding, or "underhousing" in Calgary homes.

RESOLVE executive director Sheryl Barlage – whose organization is made up of nine partner agencies aimed at building affordable and supported rental homes for 3,000 homeless and vulnerable Calgarians by March 31, 2018 – says about 3,500 Calgarians were considered homeless in a recent Homeless Foundation survey, with about 14,000 at risk of homelessness – and that doesn't include people "couch-surfing."

With the economic downturn, "we know fundamentally that number is up. It's hard to get a handle; people are one paycheque away (from homelessness) or aren't in appropriate housing. And the current economic climate (as well as) social issues are impacting the need. But the need has always been urgent."

May 06, 2016 | Cody Stuart

5 things about Calgary's housing market

By the numbers

Calgary's housing market has remained relatively unchanged this spring. With reoccurring year-over-year sales declines and benchmark price reductions receiving most of the attention, CREB®Now takes a closer look at some of the overlooked numbers to come out of the city's real estate market.

46
According to CREB®'s latest housing numbers, the average time a listing spent on the market before finding a new owner stood at 46 days in April. That's up from 43 days in March and 40 days in April 2015. With 3,127 homes in Calgary's inventory, the city currently has 2.76 months of supply, with a sales-to-new-listings ratio of 62 per cent.

Calgary's detached sector better relative to other sectors of the market, which, as a whole, continued to show signs of strain from the local economy. CREB®Now file photo.

May 02, 2016 | CREBNow

Minding the gap

Sellers continue to adjust pricing expectations

Market imbalance in Calgary's residential resale housing market continued to weigh on citywide prices in April, according to CREB®.

In its monthly housing summary released today, the board reported that, much like the previous month, year-over-year sales fell while new listings increased, resulting in inventory gains across all sectors of the market.

As a result, benchmark prices in the city declined by 0.4 per cent from last month, and 3.4 per cent from last year, to $441,000.

For the full release, click here.

In 2013, Landmark built one of the first net-zero communities in Canada — a 14-unit Edmonton townhome project titled Sparrow Landing at Larch Park. Photo courtesy Landmark Group of Companies.

April 21, 2016 | Barb Livingstone

Doing it right

Corporate social responsibility plays into homebuilders' decisions to go green

If you do the right thing corporately, the rewards will come.

That's the succinct explanation of how social responsibility can affect a company's bottom line from the president of one of Alberta's largest homebuilders.

Reza Nasseri's Landmark Group of Companies not only builds about 800 homes annually; it is one of the greenest homebuilders in the province.

"If you don't do something to protect the environment, it is a crime," said the electrical engineer. "I've been pushing this (green building practices) for a long time."

March 05, 2016 | Jamie Zachary

5 things about February housing stats

Calgary's real estate market, by the numbers

Calgary's resale residential housing market in February was virtually unchanged from previous months, highlighted by sales declines, inventory gains and, ultimately, price softness.

CREB®Now breaks down some of the key statistics to come out of CREB®'s monthly housing summary.

$445,000
The benchmark price for a home in Calgary last month was $445,000, a 0.6 per cent decline over January and 3.5 per cent lower than levels recorded last year.

M.D. of Foothills Mayor Larry Spilak says  a growing number of new residents in the area are younger couples to middle-age professionals who are choosing to raise their families in a rural environment. CREB®Now file photo.

March 02, 2016 | CREBNow

M.D. of Foothills not immune to market conditions: Mayor

CREB®Now sits down with M.D. of Foothills Mayor Larry Spilak

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Situated south of Calgary, the Municipal District of Foothills is changing. Communities such as Okotoks, High River, Black Diamond and Turner Valley are growing, while areas in-between are seeing its demographics evolve.

CREB®Now recently sat down with M.D. Mayor Larry Spilak to get his two cents on everything from the local housing market to his favourite thing to do on a day off.

CREB®Now: First off, you're title recently switched from reeve to mayor? Why?

Spilak: Many rural municipalities are making this change. The term "reeve" is not as familiar to many residents, while the term "mayor" is universal and does not require any explanation. Whether called a reeve or a mayor, the responsibilities and duties for the position are the same.

A rendering of the proposed central plaza in Bragg Creek that's part of a plan to revitalize the hamlet. Illustration courtesy Cal Srigley.

Feb. 05, 2016 | Lindsay Holden

New life for Bragg Creek

Plan is expected to provide more housing diversity, increase tourism options

A plan approved by Rocky View County late last year to rebuild Bragg Creek after the 2013 flood will also lift a 20-year building ban on the community and is expected to transform the hamlet from a through-point to Kananaskis with a mature population into a vibrant business community with young residents.

Long favoured by day-trippers, Bragg Creek has seen little change in decades due to the lack of water and wastewater infrastructure to support new residents. Under the new plan, the hamlet will encourage flood-resilient design, including homes raised on piles, roadways with permeable surfaces, and rustic themed landscaping that conceals structural dykes.

"The Hamlet of Bragg Creek is envisioned to be a vibrant commercial core that attracts residents and visitors, a thriving residential community, and a country atmosphere that is in harmony with the natural environment," said Amy Zaluski, acting policy supervisor in the planning department at Rocky View County.

CREB® chief economist Ann-Marie Lurie expects the market to turn around in 2017, but doesn’t expect conditions to return to long-term trends. Photo by Adrian Shellard/For CREB®Now

Feb. 05, 2016 | Jamie Zachary

Timing the market

Housing stats indicate some buyers still sitting on the sidelines

Calgary's resale residential housing market picked up where it left off in 2015, with buyers' conditions prevailing through every major category last month, according to CREB®.

Yet with many homebuyers still sitting on the fence, local housing officials caution that historically it's been difficult to find a utopian moment to enter the market.

"Buyers, especially first-time buyers and investors, will do their best to time the bottom, but I think that will be really difficult," said CREB® president Cliff Stevenson, noting that few were able to do so during the last recession in 2008/09 when the upturn happened quickly. "I think this year it will be a guessing game as to when will be the best time to get into the market."

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."

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