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News
July 21, 2016 | Cailynn Klingbeil
55 Years of Real Estate: 2013 CREB® Past President Becky Walters
Former CREB® president Becky Walters remembers how communities rallied in following natural disaster in 2013
Becky Walters remembers 2013 like most Calgarians do – one equally fraught with harrowing tales of devastation and inspiring stories of community spirit following a historic flood that left many communities underwater.
In June 2013, Alberta experienced heavy rainfall that sparked 32 states of local emergency in communities throughout southern Alberta and resulted in billions of dollars in insurable damages.
"It was something that affected the whole city, of course," said Walters, who, six months earlier, had become president of CREB®.
Becky Walters remembers 2013 like most Calgarians do – one equally fraught with harrowing tales of devastation and inspiring stories of community spirit following a historic flood that left many communities underwater.
In June 2013, Alberta experienced heavy rainfall that sparked 32 states of local emergency in communities throughout southern Alberta and resulted in billions of dollars in insurable damages.
"It was something that affected the whole city, of course," said Walters, who, six months earlier, had become president of CREB®.
News
July 04, 2016 | CREBNow
Home prices down, not out
Resiliency in the detached and semi-detached markets temper price fluctuations
Calgary home prices continue to slide in most areas of the market, but not at the rate that many might expect, reported CREB® in its June housing summary. (Click here for the full report.)
CREB® partly attributed June's stats to resiliency in the detached and semi-detached sectors of the market, where sales compared to new listings and standing inventory started returning to more balanced levels.
"The detached market has been gradually moving towards more balanced conditions, helping to prevent price levels from declining at the faster rates we saw in the previous two quarters," said CREB® chief economist Ann-Marie Lurie. "While this is welcomed news for sellers, it's very likely that pricing challenges will persist in the housing market until economic conditions start to improve."
Calgary home prices continue to slide in most areas of the market, but not at the rate that many might expect, reported CREB® in its June housing summary. (Click here for the full report.)
CREB® partly attributed June's stats to resiliency in the detached and semi-detached sectors of the market, where sales compared to new listings and standing inventory started returning to more balanced levels.
"The detached market has been gradually moving towards more balanced conditions, helping to prevent price levels from declining at the faster rates we saw in the previous two quarters," said CREB® chief economist Ann-Marie Lurie. "While this is welcomed news for sellers, it's very likely that pricing challenges will persist in the housing market until economic conditions start to improve."
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.
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.
News
June 01, 2016 | CREBNow
Cool runnings
Supply gains contribute to inventory rise in soft housing market: CREB®
Calgary's residential resale housing market continued to exhibit signs of softness last month, according to CREB®.
The real estate board noted in its most recent housing summary that inventory levels continued to rise in May due to an increase in new listings and decrease in sales.
As a result, the benchmark price in the city decreased for the eighth consecutive month to $439,700. May's price represents a 0.3 per cent decline from last month, and four per cent from last year.
For the full report, click here.
Calgary's residential resale housing market continued to exhibit signs of softness last month, according to CREB®.
The real estate board noted in its most recent housing summary that inventory levels continued to rise in May due to an increase in new listings and decrease in sales.
As a result, the benchmark price in the city decreased for the eighth consecutive month to $439,700. May's price represents a 0.3 per cent decline from last month, and four per cent from last year.
For the full report, click here.
News
May 18, 2016 | CREBNow
Calgary housing prices to decline further: report
CMHC report forecasts buyers' conditions will continue in 2016/17
Calgary housing prices will continue to decline in 2016, according to Canada Mortgage and Housing Corp. (CMHC), which predicts the average MLS® residential price in the city will range between $444,500 and $449,500, compared to $453,814 in 2015.
In its semi-annual housing market outlook, released today, CMHC also said it detected moderate evidence of overvaluation as house prices have not been fully supported by economic and demographic fundamentals.
In 2017, house prices in the resale market are anticipated to gradually stabilize as the market shifts to more balanced levels. Improvements in economic conditions and housing demand combined with less supply will help support home prices, said CMHC.
The MLS® average residential price in 2017 is forecast to range from $450,400 to $455,600.
Calgary housing prices will continue to decline in 2016, according to Canada Mortgage and Housing Corp. (CMHC), which predicts the average MLS® residential price in the city will range between $444,500 and $449,500, compared to $453,814 in 2015.
In its semi-annual housing market outlook, released today, CMHC also said it detected moderate evidence of overvaluation as house prices have not been fully supported by economic and demographic fundamentals.
In 2017, house prices in the resale market are anticipated to gradually stabilize as the market shifts to more balanced levels. Improvements in economic conditions and housing demand combined with less supply will help support home prices, said CMHC.
The MLS® average residential price in 2017 is forecast to range from $450,400 to $455,600.
News
May 06, 2016 | Cody Stuart
Location variation
April housing sales tell different stories for districts
While the sun might be shining in Calgary this spring, this city's resale residential housing market was overshadowed by another month of declining sales and prices in April, according to CREB®.
However, despite inclement conditions, some areas of the city and segments of the market emerged as bright spots, with several posting double-digit sales increases, the board reported in its recent monthly housing summary.
Calgary's West district recorded 128 detached sales in April, a nearly 31 per cent increase when compared to last year. It was followed by the North West, which posted a 20 per cent increase in detached sales with 187 units, the North at more than 11 per cent to 166 detached sales and City Centre at nearly four per cent to 111 detached units.
"Our market is incredibly diverse, and these numbers verify that. Different areas and price points have and will continue to react divergently to economic conditions," said CREB® president Cliff Stevenson.
While the sun might be shining in Calgary this spring, this city's resale residential housing market was overshadowed by another month of declining sales and prices in April, according to CREB®.
However, despite inclement conditions, some areas of the city and segments of the market emerged as bright spots, with several posting double-digit sales increases, the board reported in its recent monthly housing summary.
Calgary's West district recorded 128 detached sales in April, a nearly 31 per cent increase when compared to last year. It was followed by the North West, which posted a 20 per cent increase in detached sales with 187 units, the North at more than 11 per cent to 166 detached sales and City Centre at nearly four per cent to 111 detached units.
"Our market is incredibly diverse, and these numbers verify that. Different areas and price points have and will continue to react divergently to economic conditions," said CREB® president Cliff Stevenson.
News
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 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.
News
March 24, 2016 | Cody Stuart
Signs of spring
Warm weather brings indications of spring market to city
Following the second warmest February on record, the warm, sunny snow-free conditions emblematic of a spring housing market are already on display in our city. And while Calgary's housing market hasn't yet fully emerged from the doldrums, there are at least some signs of life.
With double-digit declines being the norm in 2015 for year-over-year sales, including several months of declines in excess of 25 per cent, the first two months of 2016 have seen the decline lessen.
Since October 2015, when year-over-year sales in the city fell by 33.2 per cent according to CREB®, Calgary's housing market has seen those declines lessen to 28.7 per cent in November, 18.1 per cent in December, 12.6 percent in January 2016 with February seeing the first single-digit decline in the city since December of 2014.
Following the second warmest February on record, the warm, sunny snow-free conditions emblematic of a spring housing market are already on display in our city. And while Calgary's housing market hasn't yet fully emerged from the doldrums, there are at least some signs of life.
With double-digit declines being the norm in 2015 for year-over-year sales, including several months of declines in excess of 25 per cent, the first two months of 2016 have seen the decline lessen.
Since October 2015, when year-over-year sales in the city fell by 33.2 per cent according to CREB®, Calgary's housing market has seen those declines lessen to 28.7 per cent in November, 18.1 per cent in December, 12.6 percent in January 2016 with February seeing the first single-digit decline in the city since December of 2014.
News
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.
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.
News
March 01, 2016 | CREBNow
Housing sales slower than typical February
Monthly prices decline for fifth consecutive month: CREB
February sales totaled 1,127 units in Calgary, a 6.63 per cent drop over last year and 37 per cent lower than long-term averages for the month, according to CREB®.
In its monthly housing summary, CREB® reported citywide unadjusted benchmark prices totaled $445,000 last month, a 0.63 per cent decline over January and 3.45 per cent lower than levels recorded last year.
"Slow sales and elevated housing inventory has resulted in further price declines," said CREB® chief economist Ann-Marie Lurie. "Given the current economic environment, it is no surprise that consumer confidence and housing demand is being impacted."
February sales totaled 1,127 units in Calgary, a 6.63 per cent drop over last year and 37 per cent lower than long-term averages for the month, according to CREB®.
In its monthly housing summary, CREB® reported citywide unadjusted benchmark prices totaled $445,000 last month, a 0.63 per cent decline over January and 3.45 per cent lower than levels recorded last year.
"Slow sales and elevated housing inventory has resulted in further price declines," said CREB® chief economist Ann-Marie Lurie. "Given the current economic environment, it is no surprise that consumer confidence and housing demand is being impacted."
