Blog Entries Tagged: CREB
Found 44 blog entries tagged as CREB.

The stats are in! Here are the highlights from the Calgary Real Estate Board's latest report:

  • "Significant slowdowns in the detached and semi-detached market were nearly offset by sales growth in the apartment and row sectors." (CREB®)
  • "Listings for homes priced below $500,000 fell by 18 per cent, while levels rose by 20 per cent for homes priced above $500,000." (CREB®)
  • "With just over two months of supply, the market remains far tighter than anything experienced throughout the recessionary period experienced prior to the pandemic." (CREB®)
  • "As expected, the benchmark price did see some slippage relative to levels seen earlier in the year and rising lending rates have cooled much of the bidding war activity that was driving significant…

592 Views, 0 Comments

Read Full Post

The Calgary Real Estate Board just held its annual Market Forecast summit where they looked back on 2019 and looked forward into 2020. One of their missions is to help you--buyers, sellers, renters, and investors--be informed on what is happening in the real estate market so that you can make educated decisions that will give you the best possible outcome when it comes to your housing needs. Ken Richter, your trusted real estate professional, is also a wealth of knowledge and happy to help you strategize. 

Looking back at 2019, the Calgary Real Estate Board didn't shy away from recognizing what a difficult year it was for the real estate market. They explain, "since the oil price crash, Calgary has faced job losses, wage reductions and tightening…

640 Views, 0 Comments

Read Full Post

The forecast is in! The Calgary Real Estate Board (CREB®) reports, “increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.” The sale of homes priced under $500,000 kept the market from suffering, even though higher price range homes didn’t experience as much activity.

CREB® chief economist Ann-Marie Lurie reports on the economy, “employment numbers have been improving, but mostly in industries that are traditionally lower paid. This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.” The jobs available are not ones that afford people the luxury of buying a home, but typically once these…

654 Views, 0 Comments

Read Full Post

The Calgary Real Estate Board's big headline this month? "APRIL BRINGS A SLIGHT INVENTORY DECLINE." Why so dramatic? Because for months now Calgary's real estate market has been struggling with massive oversupply in the market, leading to a buyer's market at a time when few people were able to buy. This news is an exciting turn of events (one which was forecasted at the start of the year) that will hopefully bring increased stability to the real estate market here in Calgary, Alberta. 

In their media report, CREB notes, "There have been no significant changes occurring in sales activity, but the number of new listings coming onto the market continues to ease relative to 2018 levels. The decline in new listings was enough to start chipping away at…

733 Views, 0 Comments

Read Full Post

The Calgary Real Estate Board announced its stats for January 2019! Read on for the inside scoop.... 

As economic challenges linger into 2019, housing markets remain on a sluggish pace.

  • In January 804 units were sold. This is 21 per cent below long-term averages for the month of January, and 16 per cent below last January's averages. 
  • Citywide benchmark prices eased to $414,800 for residential homes, dropping 1 per cent from the previous month of December, and 4 per cent below averages from January in 2018.
  • Months of supply now sits at seven months. This is due to yet another increase in inventory, without enough sales to balance the scales. As such, Calgary continues to stay locked in a buyer's market. 

CREB® chief economist…

739 Views, 0 Comments

Read Full Post

When you are thinking of real estate, especially now in 2019 during Calgary’s challenging real estate
market, think no further than to hire myself, Ken Richter for excellent service and ultimate results. As
your trusted professional Realtor® I have 30+ years of experience, 2018 ranked Top 6 Individual Agent at
RE/MAX Real Estate (Central), the #1 Selling Real Estate Office Worldwide for 19 consecutive years and
finished in the Top 100 in RE/MAX Western Canada once again. Contact me today at 403-630-6363 or ken@kenrichter.com.

This month the Calgary Real Estate Board released it's 2019 forecast, which echoed much of what we've heard in the last year: this economic climate is making buying and selling homes challenging. 

CREB® Chief Economist…

838 Views, 0 Comments

Read Full Post

The Calgary Board of Real Estate notes in their January report, "as oversupply continues in Calgary’s housing market, December prices eased by one per cent compared to last month and are over three per cent below last December." This summary of what happened in the final month of 2018 paints a bleak picture of December, which hopefully ended a difficult year in the real estate; though still better than others. Our hopes are that we see even more improvement in 2019!

Here are the highlights from their statistics summary: 

  • December sales totalled 794 units. This is a 21% decline compared to December of 2017. 
  • Year-to-date sales in the city totalled 16,144 units. This is 20% below long-term averages and about 14% less than in 2017.
  • …

734 Views, 0 Comments

Read Full Post

We are committed to keeping our valued clients informed on what is happening in the Calgary real estate market. An informed buyer, seller or investor is a better buyer, seller or investor. Understanding the market allows you to make decisions that are educated and strategic. Remember that we are with you every step of the way: if you have any questions, comments, concerns or suggestions please let us know. You can call us directly at 403-630-6363 or email us at team@kenrichter.com

As real estate agents in Calgary we are members of CREB®, the Calgary Real Estate Board. They are a great resource for us and anyone looking for information on the market. Each month they post the statistics from the market the previous month, which we always do a summary of…

1017 Views, 0 Comments

Read Full Post

Good news, Calgary! Gains in the real estate market for the first half of 2017 have bumped sale levels 7% higher than last year!

Inventory levels rose to 6,861 units in September. While this increase was seen across all the different property types, attached homes and apartments saw the largest increase. CREB® chief economist AnnMarie Lurie reported:

“The recent rise in inventories is preventing further price recovery as sales activity has moderated over recent months. This does not come as a surprise as sales activity is expected to remain modest by historical standards until more substantial economic improvements take hold. Some may consider this a setback, but it is important to note that recent movements are balancing out the higher than…

1285 Views, 0 Comments

Read Full Post

What was the Calgary Real Estate Board's overall message when summarizing the Calgary housing market for the month of August? Listings are outpacing sales.

 CREB® chief economist Ann-Marie Lurie had this to say about the market: “Employment growth is contributing to the stability in sales activity, but it is not enough to meet the recent rise in listings and make a substantial dent in inventory levels. Unemployment rates remain elevated and job growth is mostly occurring outside the energy sector, slowing the recovery process. Broader economic improvements will be required prior to it translating into substantial improvements in the housing market.”

Quick Notes:

  • Inventory levels are high, totaling just over 6000 units. While this is 16% higher…

870 Views, 0 Comments

Read Full Post