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What to Know About the First-Time Home Buyers Incentive

Details Released Regarding the First-Time Buyer Program

To clear up some of the confusion and specify the requirements and guidelines, below are key dates for program role out and points to be aware of:

Important Dates:

  • The first date purchases are eligible to qualify for the home buyers incentive are September 2nd. The first closings on the program are November 1st.
  • Buyers who purchase property before September 2nd are not eligible for the program, even if the closing happens after September 2nd.

Eligible Buyers:

  • First-time buyers must have saved at least the minimum 5% down payment. 
  • To count as a first-time buyer, client or their spouse cannot have owned a property in the last 4 years. Technically they could have owned a home before to qualify for the program, but not within the past 4 years
  • If a person is going through a divorce or ending a common...

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Calgary Real Estate Statistics for November 2019

Calgary housing market continues to favour the buyer 

So far this year, residential sales year-to-date in Calgary remains just above levels last year due to increases in the attached sector.

Nevertheless, sales activity in November decreased over levels last year, chiefly due to pullbacks in the apartment sector.

While new listings eased relative to sales, causing inventories to ease and oversupply to reduced slightly compared to levels last year.

“Achieving more stable conditions will take time. Sales activity has been settling in at lower levels and is likely being influenced by the economic conditions and uncertainty weighing on our market,” said CREB® chief economist Ann-Marie Lurie.

“While the amount of supply in the market continues to ease, the persistent oversupply continues to weigh on prices.”

Citywide, as of November, the unadjusted benchmark price was $419,100....