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...
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...
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...
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...