Media release: Lower-priced homes leads to increase in sales activity
Easing new listings and increased sales scale down August housing inventories. Chiefly sales were driven by homes valued below $500,000.
“Employment numbers have been improving, but mostly in industries that are traditionally lower paid,” said CREB® chief economist Ann-Marie Lurie. “This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.”
Sales in August improved by six per cent in comparison to last year. Due to the increased sales in homes valued below $500,000, which offset sales decreases in the higher price ranges.
Activity in sales increased for all types of product. Apartment-style and attached properties is where the largest growth was seen.
Sales increased in attached for the six consecutive month in comparison to last...
Media release: Sales improving and inventory declines for fourth month in a row
Compared to last year, inventories in the market declined for the fourth consecutive month. Due to the declines in new listings and improving sales.
A continuation in supply reduction compared to sales is needed to aid more balanced conditions, but the market continues to support the buyer.
“We are starting to see reductions in supply across the resale, rental and new-home markets,” said CREB® chief economist Ann-Marie Lurie.
“This adjustment in supply to the lower levels of demand will support more balanced conditions. It is starting to support more stability in prices. If this continues, the housing market should be better positioned for recovery as we move into 2020.”
Sales activity year-to-date remains well below longer-term averages and just below levels last year. Yet the inventory reduction has made the months...
Media release: Buyers' market continues with oversupply decreasing
Declines in new listings coming onto the market in June, helping to scale down the oversupply of homes in Calgary.
Roughly a 19 per cent decrease in new listings year-over-year. Compared to last year sales activity slowed this month by six per cent, but the decline in new listings caused inventory to decrease by 13 per cent in comparison to elevated levels last year.
As CREB® chief economist Ann-Marie Lurie states “So far, the housing market has generally behaved as expected this year. Sales activity remains just below last year’s levels, prices have eased and supply is starting to adjust to the lower level of sales."
“However, it is mostly product priced under $500,000 that is trending towards more balanced conditions.”
With the market still in favour of the buyer - showing 4.3 months of supply - oversupply has decreased and is lessening...
Canada Day Festivities in Calgary 2019
The national day of Canada is Canada Day which celebrates the anniversary of July 1, 1867, the date of the Constitutional Act, 1867, joining three separate colonies of the Province of Canada, Nova Scotia, and New Brunswick into a single Dominion within the British Empire. Is a federal statutory holiday. Called Dominion Day originally, the holiday was renamed in 1982, the year the Canada Act was passed.
Across the country many communities will host organized celebrations for Canada Day. Join the Canada Day Long Weekend celebrations in and around Calgary to honour Canada's 152nd birthday with many outdoor public events, such as parades, carnivals, festivals, barbecues, fireworks, and concerts on July 1, 2019.
Fireworks - 11:00pm...
Who They Are
La Brezza, meaning ocean breeze, is considered one of Calgary’s finest Italian restaurants. Opened in 1987 and still in its original location —once the owner’s house, La Brezza continues to offer an elegantly simple Italian cuisine, emphasizing traditional home-cooked goodness.
You can enjoy a satisfying lunch and dinner menu with daily specials and in which you can indulge. They pride themselves in offering great food, great service, and a warm, relaxing atmosphere. And hope to see you soon!
It was 1981, and their founder Marco Abdi had just moved to Calgary from Somalia by way of Italy. He arrived with just a few dollars in his pocket and promptly got a job as a caretaker at a medical building in inner city Bridgeland. He lived across the street from the medical...
Happy Father's Day to All Dads
With Father's Day coming soon, we need to start thinking about the greatest ways to express gratitude to our dads. As well as the usual card or gift, you may want to post a shout-out to him on your social media. Because of course, all dads deserve to be honoured.
Father's Day only happens once a year, and gives you the perfect opportunity to acknowledge your dad and tell him how special he is to you. Take this time to find the words either in a message or in a card that lets your dad know that you appreciate him throughout the year.
He has made many sacrifices in his life to provide for you. There has been so many times that he has been there for you. And you may not necessarily said thank you. This Father's...
Media release: Improvements in sales activity for the second consecutive month
A decrease in new listings and sales growth in May. Easing the pressure on inventory levels, finishing the month at 7,467 units, a decrease of 12 per cent in comparison to last year.
Months of supply down to just under four months due to improved sales and relative inventory levels. Although improved from five months of supply recorded last May, oversupply remains.
May citywide sales totalled 1,921 units, an 11 per cent increase over levels last year. Yet, sales maintain at 10 per cent below trends longer-term. Growth in sales was chiefly directed by homes worth under $500,000.
CREB® chief economist Ann-Marie Lurie states, “While sales activity remains low based on historical activity for May, the easing prices have brought some people back to market, while also preventing some others from listing their homes.”
“This has started to push the...
Mom - Mother - Mum - Mama
Mother’s Day is coming this weekend. You know you want to honour your Mom for all that she’s done for you in your lifetime but maybe you’re feeling you just don’t know where to begin. Oh oh guilt starts creeping in.
Honouring another human being is not about feeling guilty. It’s about standing for what you know about them. What makes them feel alive? Put your complete attention on your Mom. Really get to know your Mom.
What if you just spent an hour listening to your Mom?
Ask open ended questions, get curious like the child you once were. Be playful...
Designing a TV room can be a fun way to express your creativity while also developing a space that is sure to get a significant amount of use. At the same time, in order to offer the best sound and visual experience possible, you will likely need to add a great many different electronics components to your setup. Unfortunately, this can result in a large number of unsightly cords that are not only unattractive but potentially dangerous as well. In order to keep your cords and wires safely out of sight while also keeping them and your electronics easily accessible, you might want to consider implementing these simple tricks when designing your TV room.
Dealing with the TV
When it comes to the television, you have two primary options:...
Media release: Modest inventory declines exhibited for April
City of Calgary, May 1, 2019
The number of new listings coming onto the market remains to be less in comparison to levels in 2018. As well as in sales activities, which have not shown any symbolic changes.
Compared to last year new listings have eased marginally, enough to help to scale down inventory levels overall.
With the supply levels showing modest improvement assisting in additional declines of months of supply in April to 4.6 months. Levels remain to represent an oversupply in the market, but also reflect an improvement from the start of last years nearly seven months of supply.
As CREB® chief economist Ann-Marie Lurie states, “Demand remains relatively weak in the resale market. However, if supply levels continue to adjust, this could help reduce the amount of oversupply and eventually support some price stability."
Total residential benchmark price...