HOUSING MARKET FACTS

Tuesday, October 2, 2018Norm Rousseauposted in CREB Market Statistics

Attached October 2, 2018

• The attached sector has recorded year-to-date sales of 2,814. This is 15 per cent below last year and 14 per cent below long-term averages.

• With no significant reduction in new listings, inventory levels remained elevated, pushing up months of supply to over seven months.

• Elevated levels of supply compared to demand persisted for both row and semi-detached product types. Like all other sectors, the oversupply has weighed on prices across all districts, except the City Centre, North East and East.

HOUSING MARKET FACTS

Tuesday, October 2, 2018Norm Rousseauposted in CREB Market Statistics

Apartment  October 2, 2108

• The apartment sector has seen the slowest decline in sales at six per cent so far this year. Like the detached sector, activity remains over 20 per cent below long-term averages, totaling 2,103 sales.

• For the fourth month in a row, new listings have generally trended lower than levels recorded last year. This has helped reduce some of the inventory in the market compared to the previous year.

• However, even with some reductions in inventory levels, the market continues to remain firmly in buyer's territory when compared to the reduction in sales.

• With more supply than demand, benchmark prices for apartment condominium continued to ease in September, declining by 0.4 per cent over last month and 2.7 per cent compared to last year.

HOUSING MARKET FACTS

Tuesday, October 2, 2018Norm Rousseauposted in CREB Market Statistics

Detached - October 2, 2018

• Year-to-date sales eased to 7,945 units, over 20 per cent below the 10-year average. Sales eased across all price ranges, except properties under $300,000, which posted a modest gain.

• Easing sales were met with some adjustments in new listings in September. However, inventories remain elevated and are higher than long-term averages in most districts.

Persistent buyers market continues

Tuesday, October 2, 2018Norm Rousseauposted in CREB Market Statistics

City of Calgary, October 1, 2018 – With no change in the economic climate, Calgary's sales activity totaled 1,272 units in September, a 13 per cent decline over the previous year and well below long-term averages. There was a pullback in sales across all product types, most notably the detached market.

NAFTA negotiations highlight looming crisis for homeowners

Wednesday, September 19, 2018Norm Rousseau

by Neil Sharma 19 Sep 2018

Interest rates have been expected to rise all year, but ongoing negotiations for a new North American Free Trade Agreement have quashed the latest planned hikes.

“The Bank of Canada indicated that if there were another increase of the interest rate and then there was a collapse of the trading relationship with North American partners, that would significantly negatively impact the economy,” said Tim Hudak, CEO of the Ontario Real Estate Association. “Certainly from our point of view, that’s bad for the housing market, so the Bank wisely took a wait-and-see approach until the trade negotiations are completed.”

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