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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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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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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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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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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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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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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“Big John’s” Thoughts on the Calgary Real Estate Market January 2018 Looking back on 2017, it truly was the year of stabilization.  All the key indicators stabilized through the year, we have broken down the number for 2017 below.  In addition, it is interesting to note the benchmark price changed by -0.17%, the median price by 1.18%, and the average price by 0.93%.  All indicating the pricing was basically “flat” for the year.  This represents a big improvement over the declines we saw in 2015 and 2016. With this in mind, let’s look at some of the important real estate numbers from December 2017: Absorption Rate: (0-2 months of supply is

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“Big John’s” Thoughts on the Calgary Real Estate Market January 2018 Looking back on 2017, it truly was the year of stabilization.  All the key indicators stabilized through the year, we have broken down the number for 2017 below.  In addition, it is interesting to note the benchmark price changed by -0.17%, the median price by 1.18%, and the average price by 0.93%.  All indicating the pricing was basically “flat” for the year.  This represents a big improvement over the declines we saw in 2015 and 2016. With this in mind, let’s look at some of the important real estate numbers from December 2017: Absorption Rate: (0-2 months of supply is

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November Sales Improve The month of November saw a little bump in the number of sales, representing a 15% increase in the number of sales from 2016.  Much of this is likely a result of the announcement of the new mortgage stress test rules coming into effect January 1, 2018.  IF YOU ARE NOT FAMILIAR WITH THESE CHANGES AND ARE THINKING ABOUT A PURCHASE, PLEASE CONTACT OUR OFFICE TO DISCUSS YOUR SITUATION AND POTENTIAL IMPACT ON YOUR PURCHASING POWER. With this in mind, let’s look at some of the important real estate numbers from November 2017: Absorption Rate:   (0-2 months of supply is a seller’s market, 2-3.5 months of supply is

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November Sales Improve The month of November saw a little bump in the number of sales, representing a 15% increase in the number of sales from 2016.  Much of this is likely a result of the announcement of the new mortgage stress test rules coming into effect January 1, 2018.  IF YOU ARE NOT FAMILIAR WITH THESE CHANGES AND ARE THINKING ABOUT A PURCHASE, PLEASE CONTACT OUR OFFICE TO DISCUSS YOUR SITUATION AND POTENTIAL IMPACT ON YOUR PURCHASING POWER. With this in mind, let’s look at some of the important real estate numbers from November 2017: Absorption Rate:   (0-2 months of supply is a seller’s market, 2-3.5 months of supply is

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Price Remain Stable in 2017 Over the last couple of months, we have seen stability in the Calgary and Area Market.  Prices for 2017 are stable.  In October, there was a little more inventory in the market with a little softening in the total number of sales.  There are some great deals in the market and people are trying to determine how the new mortgage rules may impact their purchase and/or sale over the coming months. With this in mind, let’s look at some of the important real estate numbers from August 2017: Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4

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Price Remain Stable in 2017 Over the last couple of months, we have seen stability in the Calgary and Area Market.  Prices for 2017 are stable.  In October, there was a little more inventory in the market with a little softening in the total number of sales.  There are some great deals in the market and people are trying to determine how the new mortgage rules may impact their purchase and/or sale over the coming months. With this in mind, let’s look at some of the important real estate numbers from August 2017: Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4

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