2018 Was a Challenging Year…. Bring On 2019!

The Calgary and Area real estate market had many challenges in 2018, with major impacts due to mortgage rule changes and a continuing soft job market.  As time moves on, buyers and lenders are adapting to the new rules and there are predictions of a stronger economy in Alberta in 2019. Here are the year end numbers for 2018 with some comparisons to year end 2017 Absorption Rate: (0 to 2 months of supply is a seller’s market, 2 to 3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – 2018 is 5.22 months of supply versus 2017 at 3.64 Single Family Detached

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The Calgary and Area real estate market had many challenges in 2018, with major impacts due to mortgage rule changes and a continuing soft job market.  As time moves on, buyers and lenders are adapting to the new rules and there are predictions of a stronger economy in Alberta in 2019. Here are the year end numbers for 2018 with some comparisons to year end 2017 Absorption Rate: (0 to 2 months of supply is a seller’s market, 2 to 3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – 2018 is 5.22 months of supply versus 2017 at 3.64 Single Family Detached

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Posted in 2019 Calgary Housing Market, 2019 Calgary Real Estate, Alberta Real Estate Market, Big John's Market News, Calgary Real Estate Market December 2018, Calgary Real Estate Market Update

November New Listings Are DOWN 7% From 2017

A reduction in the new listings coming to market has caused some shifts in the market – most notably in the Apartment Condominium absorption rate that has decreased (become better) by just over 1.5 months. Here are the key monthly numbers to consider: Absorption Rate: (0 to 2 months of supply is a seller’s market, 2 to 3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – 5.5 months of supply. Single Family Detached – 5.1 months of supply Attached Homes – 6.7 months of supply. Apartment Condominiums – 5.5 months of supply. Sales to New Listings: (Ratio of under 0.6 indicates more

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A reduction in the new listings coming to market has caused some shifts in the market – most notably in the Apartment Condominium absorption rate that has decreased (become better) by just over 1.5 months. Here are the key monthly numbers to consider: Absorption Rate: (0 to 2 months of supply is a seller’s market, 2 to 3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – 5.5 months of supply. Single Family Detached – 5.1 months of supply Attached Homes – 6.7 months of supply. Apartment Condominiums – 5.5 months of supply. Sales to New Listings: (Ratio of under 0.6 indicates more

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Posted in Alberta Real Estate Market, Big John's Market News, Calgary, Calgary Real Estate 2018, Calgary Real Estate Market 2018, Calgary Real Estate Market December 2018, Calgary Real Estate Market Update

October Sales Continue to Struggle, New Listings are Slowing

In every market there are opportunities. We are seeing many buyers starting to take advantage of the tremendous buying opportunities in the market.  These buyers see that real estate is “on sale” in our area right now and want to buy before interest rates increase and the economy recovers. Here are the key monthly numbers to consider:  Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – 5.6 months of supply. Single Family Detached – 4.8 months of supply Attached Homes – 6.6 months of supply. Apartment Condominiums – 7.1 months of supply.

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In every market there are opportunities. We are seeing many buyers starting to take advantage of the tremendous buying opportunities in the market.  These buyers see that real estate is “on sale” in our area right now and want to buy before interest rates increase and the economy recovers. Here are the key monthly numbers to consider:  Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – 5.6 months of supply. Single Family Detached – 4.8 months of supply Attached Homes – 6.6 months of supply. Apartment Condominiums – 7.1 months of supply.

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Posted in Big John's Market News, Big John's Market News October 2018

September Sales About 20% Below Long-Term Averages….Is It Time to Buy?

In every market there are opportunities. We are seeing many buyers starting to take advantage of the tremendous buying opportunities in the market.  These buyers see that real estate is “on sale” in our area right now and want to buy before interest rates increase and the economy recovers. Here are the key monthly numbers to consider:  Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – There is 6.25 months of supply. Single Family Detached – There is 5.5 months of supply Attached Homes – There is 7.35 months of supply. Apartment

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In every market there are opportunities. We are seeing many buyers starting to take advantage of the tremendous buying opportunities in the market.  These buyers see that real estate is “on sale” in our area right now and want to buy before interest rates increase and the economy recovers. Here are the key monthly numbers to consider:  Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – There is 6.25 months of supply. Single Family Detached – There is 5.5 months of supply Attached Homes – There is 7.35 months of supply. Apartment

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Posted in Big John's Market News, Calgary Real Estate 2018, Calgary Real Estate Market 2018, Calgary Real Estate Market Update, September 2018 Calgary Real Estate News

August 2018 – more of what we saw in July and September continues the same trend

A Great Time to Invest or Move-Up! The end of summer continued the trend of softer sales numbers and higher than average inventory levels.  This situation will persist until the economy and job market in Calgary and Surrounding Area shows some improvement. Here are the key monthly numbers to consider: Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – There is 5.5 months of supply. Single Family Detached – There is 4.8 months of supply Attached Homes – There is 6.3 months of supply. Apartment Condominiums – There is 6.9 months of

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A Great Time to Invest or Move-Up! The end of summer continued the trend of softer sales numbers and higher than average inventory levels.  This situation will persist until the economy and job market in Calgary and Surrounding Area shows some improvement. Here are the key monthly numbers to consider: Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – There is 5.5 months of supply. Single Family Detached – There is 4.8 months of supply Attached Homes – There is 6.3 months of supply. Apartment Condominiums – There is 6.9 months of

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Posted in August 2018 Calgary Real Estate, Big John's Market News

July 2018 Continued with Weaker Demand – But the Numbers are Starting to Stabilize

The summer months continue the trend of weaker demand caused by slower job growth, interest rate increases, and continued government policies looking to “cool” the Canadian housing market.  While the numbers still indicate a clear buyer’s market, there are pockets of recovery and the overall market is showing signs of stabilization. Here are the key monthly numbers to consider: Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – There is 5.5 months of supply. Single Family Detached – There is 4.7 months of supply Attached Homes – There is 6.5 months of

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The summer months continue the trend of weaker demand caused by slower job growth, interest rate increases, and continued government policies looking to “cool” the Canadian housing market.  While the numbers still indicate a clear buyer’s market, there are pockets of recovery and the overall market is showing signs of stabilization. Here are the key monthly numbers to consider: Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – There is 5.5 months of supply. Single Family Detached – There is 4.7 months of supply Attached Homes – There is 6.5 months of

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Posted in Alberta, Alberta Real Estate Market, August 2018 Calgary Real Estate, Big John's Market News, Calgary, Calgary Real Estate 2018, Calgary Real Estate Market 2018, Calgary Real Estate Market Update

May Brought Us a Big Increase in New Listings While Demand Still Drags

The month of May saw a dramatic increase in new listings coming onto the market while the demand stayed very flat. In June, we are seeing the new listing count very similar to last June, this is great news as the inventory numbers will stabilize! Here are the key monthly numbers to consider:  Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – There is 4.9 months of supply. Single Family Detached – There is 4.26 months of supply Attached Homes – There is 5.25 months of supply. Apartment Condominiums – There is

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The month of May saw a dramatic increase in new listings coming onto the market while the demand stayed very flat. In June, we are seeing the new listing count very similar to last June, this is great news as the inventory numbers will stabilize! Here are the key monthly numbers to consider:  Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market) City of Calgary – There is 4.9 months of supply. Single Family Detached – There is 4.26 months of supply Attached Homes – There is 5.25 months of supply. Apartment Condominiums – There is

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Posted in Alberta, Alberta Real Estate Market, Alberta Staycation, Big John's Market News, Calgary, Calgary Real Estate 2018, Calgary Real Estate Market 2018, Calgary Real Estate Market Update

First Quarter of 2018 – Slower Sales Pace

The first quarter of 2018 saw a persistent slower pace of sales versus 2017.  Much of this is attributed to the mortgage rule changes that came into effect January 1, 2018.  This rule change caused many buyers to speed up their purchases at the end of 2017.  The 4th quarter of 2017 was stronger than expected as a result. The economic conditions in Alberta are improving…. slowly.  But, the government-imposed changes to lending, combined with increased interest rates are offsetting any of these positive gains. Overall, sales in the 1st quarter of this year are down 18% from last year and we are 24% below the long-term averages for total number

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The first quarter of 2018 saw a persistent slower pace of sales versus 2017.  Much of this is attributed to the mortgage rule changes that came into effect January 1, 2018.  This rule change caused many buyers to speed up their purchases at the end of 2017.  The 4th quarter of 2017 was stronger than expected as a result. The economic conditions in Alberta are improving…. slowly.  But, the government-imposed changes to lending, combined with increased interest rates are offsetting any of these positive gains. Overall, sales in the 1st quarter of this year are down 18% from last year and we are 24% below the long-term averages for total number

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Posted in Alberta, Alberta Real Estate Market, Big John's Market News, Calgary, Calgary Real Estate 2018, Calgary Real Estate Market 2018, Calgary Real Estate Market Update

February Was Soft

The total sales numbers for February were down 18% from the previous year.  The little ray of light was the new listings brought onto the market was also down by 2.2%. Why? We saw an increase in sales activity at the end of 2017 attributed to the mortgage rate change announcement that took effect January 1, 2018.  I think we just saw some people move up their purchase timeline as a result of this change.  With the people moving this up to 2017, there is naturally fewer sales in the beginning of 2018.  This is a trend we are watching very carefully.  We anticipate the sales numbers to stabilize and the

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The total sales numbers for February were down 18% from the previous year.  The little ray of light was the new listings brought onto the market was also down by 2.2%. Why? We saw an increase in sales activity at the end of 2017 attributed to the mortgage rate change announcement that took effect January 1, 2018.  I think we just saw some people move up their purchase timeline as a result of this change.  With the people moving this up to 2017, there is naturally fewer sales in the beginning of 2018.  This is a trend we are watching very carefully.  We anticipate the sales numbers to stabilize and the

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Posted in Big John's Market News

More Stability in 2018

The projections have come out for 2018 and it looks like we will have more of what 2017 offered us in the Calgary and Area real estate market. Projections are for prices to remain stable, the only exception is in the apartment condominium market where there could still be further downward pressure on prices due to high supply numbers.  In addition to stable pricing, total sales numbers and inventory numbers are all looking to be stable through 2018. With this in mind, let’s look at some of the important real estate numbers from January 2017 as compared to January 2018:  (2017/2018) Absorption Rate: (0-2 months of supply is a seller’s market,

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The projections have come out for 2018 and it looks like we will have more of what 2017 offered us in the Calgary and Area real estate market. Projections are for prices to remain stable, the only exception is in the apartment condominium market where there could still be further downward pressure on prices due to high supply numbers.  In addition to stable pricing, total sales numbers and inventory numbers are all looking to be stable through 2018. With this in mind, let’s look at some of the important real estate numbers from January 2017 as compared to January 2018:  (2017/2018) Absorption Rate: (0-2 months of supply is a seller’s market,

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Posted in Alberta, Alberta Real Estate Market, Big John's Market News, Calgary, Calgary Real Estate 2018, Calgary Real Estate Market 2018, Calgary Real Estate Market Update