May 2018 – Housing report and Statistics from CREB

Fri, 01 Jun by Georgina Burkholder

Below is the recent report as published by the Calgary Real Estate Board for the housing market in May of this year.

Your Realtor,
Matt

Lending conditions weigh on housing demand


City of Calgary, June 1, 2018 – 
May sales activity continues to ease with the largest declines occurring in the detached sector. Additional gains in new listings continue to increase inventory levels.

City-wide sales activity in May totaled 1,726 units and is 19 per cent below last years’ levels. This is 24 per cent below longer term averages. Sales activity in the detached sector declined to levels not seen in over a decade.

“The impact of rising lending rates and stricter qualification levels is causing demand to ease across all product types,” said CREB® chief economist Ann-Marie Lurie.

“Economic conditions have improved compared to several years ago, but the pace of economic recovery has not been enough to outweigh the changes in lending conditions.”

Market supply has not adjusted to sales activity and is pushing months of supply to 4.9 months. Elevated supply relative to demand prevented any further price recovery in the market and city-wide residential benchmark prices totaled $436,900 in May. This is similar to last month and 0.6 per cent below levels recorded last year.

Detached sales and inventories have risen across all price ranges, but the amount of excess supply has been most notable for homes price above $500,000. Months of supply for the higher price ranges remain high compared to the past several years. However, they still remain below record levels that occurred post financial crisis (2008 – 2009).

“The changes in the lending market are preventing some people from moving up in the market. Uncertainty has also caused others to wait on making changes to their housing situation,” said CREB® president Tom Westcott.

“However, there are pockets of the market that have not seen the same supply increase. It makes it so important to understand the dynamics of your community.”

Click here to view the full City of Calgary monthly stats package

Click here to view the full Calgary region monthly stats package

April 2018 Housing Statistics from CREB

Wed, 02 May by Georgina Burkholder

Below is the recent housing Stats as posted by the Calgary Real Estate Board.  Should you have any questions about the report, please call me at 403-251-1100

Matt

Soft Sales Continue in April

May 01, 2018

Prices steady, but struggles in Alberta economy weighs on housing
City of Calgary, May 1, 2018
 –

Changes to the lending industry and a challenging economic recovery are weighing on sales activity in Calgary’s housing market.

Supply levels have not adjusted to the weaker demand environment, and that is preventing price recovery.

“Slower sales do not come as a surprise, given the economy has not yet improved enough to offset the impact of changes in the lending industry,” said CREB® chief economist Ann-Marie Lurie.

“While the rising inventories are being monitored, prices have remained relatively flat as gains in some areas of the city have been offset by declines in other areas.”

The easing sales trend persisted through April in Calgary’s housing market. Calgary sales totaled 1,518 units in April, which is 20 per cent below last year and 25 per cent below long-term averages.

The detached sector has seen the largest decline, with year-to-date sales totaling 2,991 units, 27 per cent below the 10-year average.

Inventory levels in April totaled 7,324 units. This is a 32 per cent rise over last year, but well below the monthly high of 10,129 units recorded in 2008. Supply compared to demand has risen, but city-wide prices have remained relatively stable, totaling $436,500 in April, a monthly and annual gain of 0.21 per cent.

“The reality is that there’s selection heading into the active spring market,” said CREB® president Tom Westcott.

“For many sellers, they have to decide what price they are willing to accept for a lifestyle change. At the same time, buyers need to understand the supply dynamics and price movements in the specific area, as they may not align with their expectations.”

So far this year, apartment and attached sales have eased to levels that are comparable to 2016. However, rising supply in both markets have pushed months of supply to the highest levels recovered over this four-month period, which is preventing any significant shifts in pricing trends.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

March 2018 Housing Statistics for Calgary

Thu, 05 Apr by Georgina Burkholder

Below is the recent report(s) from The Calgary Real Estate Board on the Calgary and area market.

Should you wish to discuss the report or your own real estate needs and goals, please call
the office at 403-251-1100 or send an email to matthew.r@shaw.ca we would be happy to
speak with you.

Your Realtor,

Matt Reiser

Housing market inventory on the rise

April 02, 2018

Prices remain stable compared to last year

City of Calgary, April 2, 2018 –

As expected, slow sales this quarter have persisted through March in the City of Calgary.
This is not a surprise, after stronger growth in sales at the end of last year following the
announced changes to the lending market.

First quarter sales totaled 3,423 units, nearly 18 per cent below last year’s levels and 24 per
cent below long-term averages. Easing sales and modest gains in new listings caused
inventories to rise and months of supply to remain above four months.

“Economic conditions are slowly improving, but it has not been enough to outpace
the current impact of higher lending rates and more stringent conditions,” said CREB®
chief economist Ann-Marie Lurie.

“We are entering the most active quarters in the housing market with more inventory,
which could create some price fluctuations. However, the improving economy is expected
to prevent overall prices from slipping by significant amounts.”

While prices trended down on a quarterly basis, they remained relatively unchanged over
last year’s levels due to modest gains in the detached sector offsetting declines in the
apartment sector.

The citywide benchmark price for detached product averaged $502,000 in the first quarter.
This is slightly lower than the fourth quarter of last year, but comparable to levels recorded
in the first quarter of last year. In March, the detached price reached $503,800, 3.6 per cent
below pre-recession highs, but one per cent above the lows recorded during the recession.

“The market today is better than what we experienced at the peak of the recession,” said
CREB® president Tom Westcott.

“You can find good value if you’re looking to buy a home, and you can also get good value
if you’re selling. Being well-informed, in any economic condition, is the key, because there
are differences in the market depending on what type of property it is and where it is located.”

Detached market inventories in the first quarter of 2017 were low compared to historical
standards. This year, detached inventories have averaged 2,573 units over the first quarter,
10 per cent below first quarter averages recorded during 2015 and 2016.

Spring will have more inventory than last year, slowing progress on price recovery. However,
the amount of price adjustment will vary depending on competing supply by location and
product type.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

CREB Statistics for February 2018

Thu, 01 Mar by Georgina Burkholder

Here are the recent market stats from the Calgary Real Estate Board. At the bottom of the article  by  CREB – are links to the detailed reports.

Should you have any questions about the article or about the detailed reports, we would be happy to speak with you.  Please call the office at 403-251-1100 or send an email to matthew.r@shaw.ca

Your Realtor,

Matt

FROM CREB –  Calgary housing market prices hold, but sales fall

City of Calgary, March 1, 2018 –

Residential home sales declined in February, but a decline in new listings helped keep prices steady this month.

Sales totaled 1.094 units in February, 18 per cent below last year’s activity. Easing sales occurred across all property types this month, which outpaced the sales growth that occurred in January. After the first two months of the year, sales activity remains well below longer-term averages.

“Housing market conditions are still adjusting to rising lending rates and changes in lending requirements. This process is expected to be bumpy, with demand adjustments leading the changes,” said CREB® chief economist Ann-Marie Lurie.

“However, it is important to remember that it is early in the process and the impact on prices will ultimately be dependent on the supply response.”

A decline in new listings was not enough to prevent further gains in inventory levels, but it offset some of the impact of slower sales activity. In the detached sector, one of the largest declines in sales occurred in the $600,000 – $999,999 range, while this price range also recorded gains in new listings.

“This is a market where the fundamentals of a sound pricing strategy need to be understood by sellers. At the same time, savvy buyers typically have a clear understanding of how much of a mortgage they can get,” said CREB® president Tom Westcott.

“With all the recent changes, potential purchasers should be obtaining pre-approvals so they understand exactly what they can afford prior to making an offer on a home. It also provides them flexibility in this market.”

Citywide benchmark prices totaled $434,300 in February, which is just above levels recovered last month, but comparable to levels recorded last year. While year-over-year price growth remained relatively stable in both the detached and attached markets, apartment prices remained three per cent below last year’s levels.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

January 2018 Monthly Statistics from CREB

Thu, 01 Feb by Georgina Burkholder

The Calgary Real Estate Board has posted their monthly statistics for housing sales in January 2018.

Here is the link to Calgary housing stats:

http://www.creblink.com/-/media/Public/CREBcom/Housing_Statistics/Calgary_Monthly_Stats.pdf?la=en

Here is the link to the Regional housing stats for January 2018:

http://www.creblink.com/-/media/Public/CREBcom/Housing_Statistics/Regional_Monthly_Stats.pdf?la=en

Should you have any questions about these reports please call me I can be reached at 403-251-1100 or send an email to matthew.r@shaw.ca

Your Realtor,

Matt

 

CREB 2018 Forecast report

Thu, 01 Feb by Georgina Burkholder

The Calgary Real Estate Board held its annual forecast meeting this week to share their outlook on the market ahead.  They forecast challenges for 2018 market, but optimism remains on the horizon.

Here is the link to their full report with all the stats and graphs.

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/2018ForecastReportWEB.pdf?la=en

Should you have any questions about the report we would be very happy to talk with you.  We can be reached at the office at 403-251-1100 or send an email to matthew.r@shaw.ca

Your Realtor,

Matt

 

DECEMBER 2017 Housing Stats by CREB

Mon, 08 Jan by Georgina Burkholder

Happy New Year!!!

Here are the December 2017 Calgary Housing  Statistics as post by CREB:

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Calgary_Monthly_Stats.pdf?la=en

Here are the Stats for the Regional Areas surrounding Calgary as reported by CREB:

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Regional_Monthly_Stats.pdf

Should you have questions about these reports or would like to discuss your own personal real estate needs or goals, my team and I are always happy to speak with you.

Call the office at 403-251-1100 or send an email to matthew.r@shaw.ca

Wishing you all the best in 2018!!

Your Realtor,

Matt

 

 

 

NOVEMBER 2017 Housing Statistics by CREB

Fri, 01 Dec by Georgina Burkholder

Below are the November housing stats as recently posted by CREB for Calgary and area.

CALGARY NOVEMBER 2017:

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Calgary_Monthly_Stats.pdf?la=en

REGIONAL NOVEMBER 2017:

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Regional_Monthly_Stats.pdfh

Should you have any questions about the above reports or about your own personal real estate needs, we are more than happy to speak with you.  Please call the office at 403-251-1100 or send an email to matthew.r@shaw.ca

Matt Reiser

 

 

OCTOBER 2017 Housing Stats by the Calgary Real Estate Board

Mon, 06 Nov by Georgina Burkholder

October went by a little too quickly and here we are at the start of a new month.  Below is the recent statistics for housing in and around Calgary as per the Calgary Real Estate Board

Calgary Housing Stats:

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Calgary_Monthly_Stats.pdf?la=en

Areas surrounding Calgary:

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Regional_Monthly_Stats.pdf

Should you have any questions about the above reports or would like to discuss your own real estate needs, we would be happy to talk with you.  Please call the office at 403-251-1100 or send an email to matthew.r@shaw.ca

Matthew Reiser

Calgary Housing Statistics for September 2017

Wed, 04 Oct by Georgina Burkholder

Here are the current housing statistics from the Calgary Real Estate Board for the month of September 2017

City of Calgary:

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Calgary_Monthly_Stats.pdf?la=en

Regions surrounding Calgary

http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Regional_Monthly_Stats.pdf

Should you have any questions in regards to the report or would like to discuss your current real estate needs, please call the office at 403-251-1100 or send an email to matthew.r@shaw.ca

Your Realtor

Matt Reiser

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.