Market Updates | Page #11

Market Updates

At the start of each new month we summarize the key points from the Calgary Real Estate Board’s (CREB) report on what happened in Calgary real estate the previous month.

Many people do not like reading about statistics. The numbers seem confusing and convoluted, sometimes manipulated to produce a specific result. They leave many people feeling frustrated and even more uneducated than they were to begin with. However, when it comes to CREB’s report, we guarantee credible, clear, helpful information.  CREB is a fantastic resource for buyers, sellers, investors, agents, etc.. If you are looking for information on the real estate market, they should be your #1 resource.

There is an important reason why we consistently relay the CREB report to you:…

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October was a strong month for the real estate market here in YYC. However, in November conditions turned back to previous trends. CREB® writes, “year- over-year monthly sales totalled 1,227 units, which is nearly three per cent lower than last year and 17 per cent below long-term averages.”

As we reported on back in November, major changes were made to Canada’s housing rules last month. The changes were aimed at helping Canadians keep from taking on larger mortgages than they could economically handle during a time when interest rates were incredibly low. For more information on this, check out an article on it HERE.

These changes may be helpful in the long run for people, but right now they are stopping many people from entering the market. This…

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This month the Calgary Real Estate Board (CREB®) had some good news for us: “For the first time in two years, sales activity in October resembled normal levels. City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year.”

This is fantastic information for all of us who have been carefully watching the market as it has navigated turbulent economic conditions. We have always believed in Calgary’s ability to fight hard times with strength and perseverance. As Calgary’s economic confidence has begun to recover, Calgarians are starting to make confident real estate moves that are positively influencing the market.

The detached sector saw major sales in October. Sales are what have been preventing the market from making…

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Hello, October! The season of pumpkins and plaid is upon us. The weather is swiftly turning crispy here in YYC, but we are very happy to report that it looks as though the snow will hold off a little longer. In the meantime, we have some very important statistics to go over with you.

The word ‘statistics’ carries many negative connotations. People immediately think of the class they failed freshmen year or the report their boss is always hounding them for. However, statistics are important–especially if you are in the real estate market hoping to sell or buy a home. Staying informed is the best way to make a wise decision you will not regret come November.

Without further ado, here are the statistics from what happened in the real estate market in…

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Every month the Calgary Real Estate Board (CREB®) publishes a monthly housing summary. These summaries go over what happened in the real estate market, how trends shifted, what to expect moving forward, benchmark prices, information behind changes in the market, etc.. This is a fantastic resource that we highly recommend! The most successful kind of buyers and sellers are the kind of buyers and sellers that are informed.

Most recently CREB® divided their report into two parts: the Calgary statistics and the Calgary region statistics. In our monthly summaries of the CREB® report, we focus specifically on the Calgary statistics. However, if you are interested in knowing about Calgary and its neighbouring areas, check out the full Calgary region…

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This year’s census data has shown a major decline in net migration. While families already in Calgary are growing, the number of people coming to Calgary from other places has decreased. This has affected the housing market by sales activity dropping.

CREB® chief economist Ann-Marie Lurie explains, “continued pullback of sales activity is a sign of economic conditions. The number of unemployed workers keeps rising and when you combine job losses with declining net migration, the result is going to be weaker housing demand.”

One thing that worked in favor of this was a decline in new listings. Less buying activity was matched with less inventory on the market, which significantly helped prevent pressure on benchmark prices. CREB® notes that the…

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The June statistics are in!

For those of you just joining us here at Team Ken Richter, welcome! Every month the Calgary Real Estate Board (CREB®) publishes a summary of what happened in the housing market during the previous month. This is a fantastic way for buyers, sellers, investors and renters to stay up to date on market conditions. By tracking trends you can make smarter real estate choices, and we are here to help.

So, what happened in June?

Home prices continued to slide downwards as a buyers market persisted. What is a buyer’s market, you ask? That is when there are high inventory levels with low prices. This kind of market gives buyers the advantage because they have more to choose from at a lower price.

The detached home sector was…

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In May inventory levels continued to rise as more homes were put on the market. Meanwhile, sales activity slowed to one-thousand nine-hundred twenty-three units being sold. CREB® explains this development in their monthly housing summary for May. An in-depth report with specific statistics can can be found at their website, www.creb.com, but here are some of the major highlights:

Why did the market play out the way it did in May?

“While recent oil price gains may have some feeling optimistic, weakness in the labour market continues to impact housing demand,” says CREB® chief economist Ann-Marie Lurie. “Job losses are spreading into other sectors, wages are declining and unemployment levels remain high. At the same time, we’re seeing housing supply…

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At the start of every month we go over what happened in the world of the Calgary real estate market in the previous month. This enables you as a buyer, seller, investor, renter, leaser, etc. to stay up to date on exactly what is happening.

Market conditions are constantly shifting and evolving. They provide crucial information regarding a sector that involves major financial decisions. Keep yourself informed so you can be educated and informed!

So, what did the market look like in April? We’re turning to the Calgary Real Estate Board (CREB®) to find out.

The market is finally starting to shift. Inventory remains high, but prices are starting to decline as sellers become more realistic about the market they are in. Prices have been slowly falling…

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April is here, much to the delight and surprise of many. It seems as though March flew by with the help of the beautiful weather and so many special events.

With the beginning of April comes the ability to see what happened in March as a whole. This is what CREB (the Calgary Real Estate Board) does: they look back on everything that happened in March, then summarize it and record the data so overall trends can be discovered. Every month we take the CREB summary and give you the highlights. If you want more detailed information, go to their website HERE. They are a fantastic resources for buyers, sellers, investors and anyone else wondering what is going on in the real estate market.

Without further ado, here are the CREB March housing summary…

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