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.”
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...
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,...
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."
Why Use A REALTOR®: When Buying or Selling a Home
Real estate transactions are one of the biggest financial investments most people encounter in their lifetime. Seeing the small upside cost and the large downside risk, it would be unwise to consider a deal in real estate without the professional assistance of a REALTOR®.
Whether buying or selling, you’re involved in a complex process requiring many professionals. One of these professionals is a REALTOR®, who’s responsible for making the transaction as efficient and as easy as possible for you. Your REALTOR® will ensure the transaction is completed competently and professionally. You can get advice from someone with an in-depth knowledge of the local housing market. And you can count on the help of a professional who has committed to serve you with integrity and...
Media release: Despite improved sales activity for affordable product oversupply continues
City of Calgary, April 1, 2019
Compared to last year March saw a modest decline in city wide sales activity. Yet, for the more affordable product in the detached and attached section, sales have increased.
Sales dropped to 3,108 units in the first-quarter. This being 28 per cent below usual levels of activity and nine percent below last year. Changes in the markets lower end has not outweighed easing over the higher cost product.
Declines in pricing and comparatively slow sales activity have impacted the number of new listings. Compared to last year's levels and long-term trends, new listings have eased for the second consecutive month, although it was not enough to prevent a gain in inventory.
“If new listings continue to slow compared...
Fur-Ever Homes Rescue: Every Animal Deserves a Second Chance
Fur-ever Homes Rescue is a not for profit local dog rescue that saves lives everyday. Whether they are rescuing dogs locally, provincially, or internationally (California, Mexico, and even Korea), this local rescue has a very important mission, to rescue, rehabilitate and re-home displaced animals. Most of the dogs they rescue have little to no chance of survival and Fur-ever Homes Rescue saves these deserving animals with no hesitation.
Their adoption process is structured to carefully select loving homes for each animal to ensure they will receive a lifetime of care and love. The rescue host adoptions events every weekend and is partnered with...
St. Patrick's Day Celebrations: Calgary West Side
Saint Patrick's Day, or Feast of Saint Patrick "the Day of the Festival of Patrick", a religious and cultural celebration held on 17 March. Tradition says that Saint Patrick died on this date and was buried. Over centuries, numerous legends arose around Patrick and he became the patron saint of Ireland.
Saint Patrick's Day was made an official Christian feast day in the early 17th century and is observed by many Churches. This day commemorates Saint Patrick and the...
Media release: Oversupply of housing market as we feel the chill
City of Calgary, March 1, 2019 – Weak sales activity continue, and inventory remains elevated in the city’s housing market due to effects of Calgary's economic climate.
Prices are being affected, as a result.
CREB® chief economist Ann-Marie Lurie states “It is not a surprise that slowing activity in the housing market has persisted into February.”
“There has been no substantial change in the economic climate and concerns regarding potential layoffs in the energy sector are weighing on confidence.”
Benchmark prices citywide were $414,400 as of February. Almost five per cent below January’s last year, 10 percent less than recorded 2014 highs and slightly lower than figures for last month.
Price declines and slower sales appear to influence sellers even though the market...