Homes below $500,000 shifting towards balanced conditions
October sales activity increased by almost 10 percent in comparison to last year, guided by progress in the attached and apartment sectors.
New listings also eased, helping to decrease inventory levels and market oversupply. Although there's a shift towards stable conditions, the market remains oversupplied and prices continued to linger below levels last year.
"Employment has shifted in the city, with job growth occurring in our non-traditional sectors and often at a different pay scale. This is consistent with the shift to more affordable housing product," said CREB...
Elevated sales guided by affordable product and inventory decline
The third-quarter hustle continues to show signs of growth. Comparable to last quarter, a great deal of the advancement in the market has been guided by supply corrections.
Nonetheless, the housing market has also improved this quarter from solid year-over-year growth in sales activity. A decline in prices has likely supported some of the boosts in demand. Additionally, sales growth has been guided by products priced less than $500,000.
“This is a market with divergent trends. The lower end of the market is recording improving sales and easing supply. This is supporting more stability in prices. However, at the higher end of the market we continue to see slower sales and rising supply,” said CREB® chief economist Ann-Marie Lurie.
“Persistent struggles in the overall economy have caused a shift in salary expectations, along with adjustments...
There's always something to be grateful for... Thanksgiving Day is the perfect time to remind each other of the many reasons there are to be grateful. At this time we catch one's breath to count our blessings. The freedom of this great country of Canada which we live in. For our work colleagues, for their professionalism, inspiration, and sense of humour. The food on our tables, shelter and unconditional love from our family and friends.
When you think of Thanksgiving, what images come to mind for you? The long weekend kicking off the autumn season? Raking leaves and kids having fun playing in them? Harvesting the crops? Shutting down the lake cottage? Eating yummy roast turkey? Pumpkin pie? Watching football on tv with the family? Perhaps watching the Thanksgiving Day...
Purchasing a home is a big decision and a thorough home inspection is absolutely necessary in the buying process. We refer our clients to - their objective is two fold: To ensure a quality product for the home buyer, and to assure every client that their new home will provide a safe environment for their family. They are available 24/7 to service the greater Calgary area and to answer any questions, call 587.888.6181 or email them at firstname.lastname@example.org to book your appointment.
Media release: Moving towards balance
Sales activity improved over last year's numbers for the third consecutive month, as year-over-year inventories and new listings eased. This direction is encouraging the housing markets stability.
“Price declines have likely brought some buyers back into the market,” said CREB® chief economist Ann-Marie Lurie, noting improvements in the market continue to be driven by homes priced below $500,000.
Sales improved by 16 per cent this month in the condominium apartment market. Symbolizing the segments best September since 2015. Growth year-to-date in both the apartment and attached sectors were adequate to balance the moderate decrease in the detached sector resulting in sales growth in the city year-to-date of almost one per cent.
The overall market remains oversupplied despite reductions in inventory and improving sales. Continuing to have an influence on prices.
As winter inches closer, now’s the time to prepare by repairing your home. Repairs you make now will pay off tremendously in the future. Ensuring that your home’s cold-weather systems are running efficiently will save you money and major headaches in the long run.
1. DRAIN THE HOSE
Watering season is over, but you’re not done with your outdoor watering system quite yet. To avoid cracked hoses and burst faucets over the winter, turn off water valves in your home and drain all remaining water from the taps and hoses. Tip: Unrolling the hose down a gentle slope will let the water run out completely.
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 year. With this being...
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 of supply in July...
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 the reduction...
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 @ Centre...