Prices steady, but struggles in Alberta economy weighs on housing. Changes to the lending industry and a challenging economic recovery are weighing on sales activity in Supply levels have not adjusted to the weaker demand environment, and that is preventing price recovery. improved enough to offset the impact of changes in the lending -Marie Lurie. For the full report supplied by the Calgary real estate board please click HERE. Continue reading →
Market Update and Statistics
Canada’s National housing market update
A recent RE/MAX survey conducted by Leger found more than one in four Canadian homebuyers report feeling pinched by the stress test, which came into effect in January of this year. However, projections for the spring market show optimism with most markets expected to remain stable or improve. For the full report click HERE. Continue reading →
Calgary housing market inventory on the rise
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. For the full report provided by the Calgary Real Estate Board click HERE. Continue reading →
Calgary housing market prices hold, but sales fall…
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. For the full report click HERE.
We are a family real estate team who has been serving Calgary since 1977 and we love what we do and where we live! Please do not hesitate to contact Doug, Susan or Kristen with any real estate questions. www.penleymcnaughton.com
2018 Forecast for real estate in Calgary
Housing market conditions are expected to remain relatively unchanged in 2018, as the impact of higher lending rates and stricter lending criteria are offset by modest improvements in the economic climate. Recent changes may have prolonged the recovery period in our market, but it is not expected to completely derail the transition. Full the full report click HERE.
Please do not hesitate to contact Doug, Susan or Kristen with any real estate questions. We are a family real estate team who has been serving Calgary since 1977 and we love what we do and where we live! www.penleymcnaughton.com
Your informative Calgary real estate market update!
Please contact Doug, Susan or Kristen with any of your real estate concerns. We are a family real estate team that loves what we do and have been serving Calgary and surrounding areas for 40 years! www.penleymcnaughton.com
Click HERE for the full report!
Your Calgary real estate market update
October’s housing market conditions closely echoed previous month’s trends with easing sales, rising inventories and downward price pressure. Like last month, the monthly activity was not enough to derail gains that occurred earlier in the year. October sales and inventories totaled 1,467 and 6,463 units for a month of supply of 4.4. Several months of elevated supply in comparison to demand has weighed on pricing over the past several months. The city-wide unadjusted benchmark price in October totaled $438,900, 0.6 per cent below last month, but comparable to last year. “While economic activity has improved in 2017, it will take some time for this to translate into housing market growth. There have been employment gains, but most of this has occurred in areas with traditionally lower income,” said CREB® chief economist Ann-Marie Lurie. Click HERE for the full report provided by CREB.
Please contact Doug, Susan or Kristen with any of your real estate concerns. We are a family real estate team that loves what we do and have been serving Calgary and surrounding areas for 40 years! www.penleymcnaughton.com
Your Calgary Connection real estate market update
Please do not hesitate to contact Doug, Susan or Kristen with any of your real estate needs. We are a family team serving Calgary for the past 40 years! www.penleymcnaughton.com
For the full details report and helpful links please click HERE.
Housing Market update for the month of September in Calgary
The Big Picture Inventory increases and sales drop in September, but overall sales for the year remain higher than last year. City of Calgary, October 2, 2017 – Strong gains in the first-half of 2017 has put the Calgary year-to-date sales at seven per cent above last years’ levels and 11 per cent below long-term averages, but challenges remain with easing sales and rising new listings. Doug, Susan and Kristen at Team Penley McNaughton have been living in and selling real estate in Calgary for 40 years. We are a family team who loves what we do. Please do not hesitate to contact us with any of your real estate needs. www. penleymcnaughton.com. For the FULL REPORT CLICK HERE.
Housing recovery for Calgary a balancing act
City of Calgary, September 1, 2017 – Sales posted a modest gain in August, but a rise in new listings kept inventory levels elevated. Inventories totaled 6,624 units, where over half were comprised of attached and apartment style properties. While inventories were 16 per cent higher than August 2016 levels, the slight rise in sales prevented further gains in the monthsof-supply, which remain just above four months. For the FULL REPORT provided by the Calgary Real Estate board click HERE. Doug, Susan and Kristen are a Family real estate team serving Calgary and surrounding areas for 40 years! Please do not hesitate to contact with any real estate questions you might have. www.penleymcnaughton.com.