HOUSING MARKET FACTS CREB NOV. 2018

Wednesday, December 5, 2018Norm Rousseauposted in CREB Market Statistics

Detached

• Detached sales declined across all districts in November. With citywide sales of 679 units, activity remains 21 per cent below Housing Market Facts for November 2018 with typical levels for the month.

• New listings eased by three per cent compared to last year, due to declines mostly in the North East, North and South East districts. Year-to-date new listings this year have increased in all areas except the North East and East districts.

• Inventories in the detached sector totalled 3,491 units, 26 per cent higher than last year’s levels. Months of supply sits at five months, well above the three-month typical for November.

• Detached benchmark prices totalled $486,000 in November, a one per cent decline over last month and a three per cent decline over last year. This is nearly seven per cent below monthly highs recorded in October 2014.

• Prices have eased across all districts in November. On a year-to-date basis, the largest declines this year have occurred in the North East and North districts. This is likely due to the increased competition from the new-home sector. The districts that remain furthest from price recovery are the North West and South districts.

CREB Stats City of Calgary November, 2018

Wednesday, December 5, 2018Norm Rousseauposted in CREB Market Statistics

Challenging economic conditions continue to impact the resale market

Published December 3, 2018

Sitting below long term Averages

November sales in the city totaled 1,171 units. For the year so far, sales activity has totaled 15,349 units, a 14 per cent decline over last year and nearly 20 per cent below long-term averages. “Recent challenges in the energy sector have weighed on consumer confidence over the past month. Combined with weakness in the employment market and further gains in lending rates, this is impacting ownership demand,” said CREB® chief economist Ann-Marie Lurie.

7 Reasons to List Your House For Sale This Holiday Season

Friday, November 30, 2018Norm Rousseauposted in Sellers

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Every year at this time there are many homeowners who decide to wait until after the holidays to list their homes for the first time, while others who already have their homes on the market decide to take them off until after the holidays.

Overbuilding drags down Calgary house prices CMHC report

Monday, November 12, 2018Norm Rousseauposted in CMHC

Calgary house prices are sliding and a new report from the Canada Mortgage and Housing Corporation indicates that trend could continue.

Amanda Stephenson, Calgary Herald Updated: October 25, 2018

Chart price changes and the symbolic house. Financial conceptCalgary house prices are sliding and a new report from the Canada Mortgage and Housing Corp. indicates that trend could continue.

In its quarterly Housing Market Assessment, released Thursday, the CMHC said Calgary’s housing market indicates a “moderate” degree of vulnerability as a result of overbuilding. Calgary is still a buyer’s market, with the inventory of unsold new homes outpacing demand.

HOUSING MARKET FACTS

Friday, November 2, 2018Norm Rousseau

Calgary - October 2018

Apartment

  • Year-to-date apartment sales have totaled 2,316 units, nearly seven per cent below last year. New listings have also eased by six per cent, helping reduce the amount of inventory in the market.
  • Despite the easing inventories, the months of supply remains elevated at 7 months.
  • Year-to-date apartment condominium prices have eased by 2.8 per cent and remain 14 per cent below 2014 highs. Declines occurred across all districts, with the steepest declines occurring in the North East, East and South districts.

Attached

  • The attached sector has recorded year-to-date sales of 3,098. This is 15 per cent below last year and 14 per cent below long-term averages.
  • Meanwhile, despite recent easing in new listings, October inventories are the highest level on record.
  • The oversupply is affecting both the semi-detached and row sectors, which have seen prices trend down over the past 5 months.
  • Year-to-date, row benchmark prices have averaged $298,140 this year, nearly two per cent below last year and nine per cent below previous highs.
  • However, prices have remained relatively flat in both the City Centre and North West districts.
  • As of October, semi-detached prices were $403,400, one per cent lower than last month and nearly three per cent lower than last year. Despite recent declines, year-to-date citywide prices remain relatively flat compared to last year. This was most due to gains in the City Centre, North East and East districts offsetting declines in the North West, South and South East.
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