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Stories Tagged - attached
News
Jan. 09, 2017 | Joel Schlesinger
Bottoms up
After a tough year for the 'other half' of Calgary's real estate market, the city's apartment/attached segments are expected to see gradual turnaround in 2017
Lower prices and added choices created buyers' conditions in Calgary's attached and apartment sectors in 2016. But a slow recovery is expected in 2017, bringing both sectors into better balance, says CREB®'s 2017 Economic Outlook & Regional Housing Market Forecast.
The degree to which they'll the "other half" will get there will differ, however. While the attached sector is set to post positive overall numbers, apartment sales and prices will be moderated by persistently high inventory levels.
Lower prices and added choices created buyers' conditions in Calgary's attached and apartment sectors in 2016. But a slow recovery is expected in 2017, bringing both sectors into better balance, says CREB®'s 2017 Economic Outlook & Regional Housing Market Forecast.
The degree to which they'll the "other half" will get there will differ, however. While the attached sector is set to post positive overall numbers, apartment sales and prices will be moderated by persistently high inventory levels.
News
Jan. 09, 2017 | Jamie Zachary
Transition talk
Calgary housing market to see increased stability, signs of change in 2017: CREB®
The worst might be over for Calgary's housing market, according to CREB®, which is forecasting transitional conditions throughout this year on the back of renewed optimism in the oil patch.
The forecast, captured in the real estate organization's 2017 Economic Outlook and Regional Housing Market Forecast report, comes after more than two years of recessionary conditions that have been manifested by sales and price declines in virtually every corner of the local market.
The worst might be over for Calgary's housing market, according to CREB®, which is forecasting transitional conditions throughout this year on the back of renewed optimism in the oil patch.
The forecast, captured in the real estate organization's 2017 Economic Outlook and Regional Housing Market Forecast report, comes after more than two years of recessionary conditions that have been manifested by sales and price declines in virtually every corner of the local market.
News
Dec. 21, 2016 | Jamie Zachary
2016 year in review
Few surprises, but still highlights for Calgary's housing market this past year, say experts
In a year of sales declines, price adjustments and mortgage rule changes, the one constant for Calgary's housing market in 2016 was the number of challenges it faced as the result of soft economic conditions, say industry observers.
Yet officials also maintain challenges for some created opportunities for others. And, perhaps more importantly, there is renewed optimism heading into 2017 thanks to improving numbers during the second half of this year and a series of large energy infrastructure announcements.
In a year of sales declines, price adjustments and mortgage rule changes, the one constant for Calgary's housing market in 2016 was the number of challenges it faced as the result of soft economic conditions, say industry observers.
Yet officials also maintain challenges for some created opportunities for others. And, perhaps more importantly, there is renewed optimism heading into 2017 thanks to improving numbers during the second half of this year and a series of large energy infrastructure announcements.
News
Dec. 01, 2016 | CREBNow
November sales slide into old patterns
Detached prices dip below $500,000 for first time since 2014
Coming off a month of stronger sales activity, November's resale residential housing market returned to previous trends, according to CREB®.
In its November housing summary released Dec. 1, year-over-year monthly sales totaled 1,227 units, which is nearly three per cent lower than last year and 17 per cent below long-term averages.
"November was the first full month with CMHC's new lending rules in effect," said CREB® chief economist Ann-Marie Lurie. "As suspected, the gains in last month's sales were temporary. Stringent conditions for borrowers are converging with the current economic climate and weighing on demand."
Coming off a month of stronger sales activity, November's resale residential housing market returned to previous trends, according to CREB®.
In its November housing summary released Dec. 1, year-over-year monthly sales totaled 1,227 units, which is nearly three per cent lower than last year and 17 per cent below long-term averages.
"November was the first full month with CMHC's new lending rules in effect," said CREB® chief economist Ann-Marie Lurie. "As suspected, the gains in last month's sales were temporary. Stringent conditions for borrowers are converging with the current economic climate and weighing on demand."
News
Dec. 21, 2016 | Jamie Zachary
Q&A with CREB® chief economist Ann-Marie Lurie
CREB® chief economist Ann-Marie Lurie has seen a bit of everything in 2016. From buyers' conditions to migrational changes, Calgary's housing market has taken industry observers like herself on a wild ride over the past 12 months.
CREB®Now recently had the chance to sit down with Lurie and reflect on 2016. Here's what she had to say:
CREB®Now: Did 2016 play out the way you expected?
CREB®Now recently had the chance to sit down with Lurie and reflect on 2016. Here's what she had to say:
CREB®Now: Did 2016 play out the way you expected?
News
Nov. 17, 2016 | Marty Hope
Next stop: Yorkville
New southwest community by Mattamy to house up to 12,000 people
Come spring, the landscape of Calgary's deep southwest will be undergoing another change, this one being sculpted by Mattamy Homes.
With the snow gone, grading and storm pond construction is expected to get started on the new community of Yorkville, located over more than 190 hectares along the southern boundary of Silverado and moving further south and west.
Come spring, the landscape of Calgary's deep southwest will be undergoing another change, this one being sculpted by Mattamy Homes.
With the snow gone, grading and storm pond construction is expected to get started on the new community of Yorkville, located over more than 190 hectares along the southern boundary of Silverado and moving further south and west.
News
Nov. 01, 2016 | CREBNow
Home sales rebound in October
CREB® points to mortgage rule changes as motivator
For the first time in two years, resale residential housing sales activity in October resembled normal levels, according to a new report.
City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year, reported CREB® in its monthly housing summary.
"The shift in sales activity this month is likely related to the new mortgage rule changes, inventory gains in the lower price ranges and further price adjustments," said CREB® chief economist Ann-Marie Lurie.
For the first time in two years, resale residential housing sales activity in October resembled normal levels, according to a new report.
City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year, reported CREB® in its monthly housing summary.
"The shift in sales activity this month is likely related to the new mortgage rule changes, inventory gains in the lower price ranges and further price adjustments," said CREB® chief economist Ann-Marie Lurie.
News
Oct. 03, 2016 | CREBNow
Detached prices stabilize in soft market: CREB®
New listing levels starting to match sales
A new report indicates the segment of Calgary's resale residential housing market with the greatest influence on the overall market is showing signs of pricing stability.
The detached benchmark price totaled $503,400 in September, which is 3.3 per cent below last year, but the second consecutive month at this price level, reported CREB® today.
While overall economic conditions remain soft, for now the detached sector is demonstrating some steadiness in terms of pricing, the member-based organization said.
A new report indicates the segment of Calgary's resale residential housing market with the greatest influence on the overall market is showing signs of pricing stability.
The detached benchmark price totaled $503,400 in September, which is 3.3 per cent below last year, but the second consecutive month at this price level, reported CREB® today.
While overall economic conditions remain soft, for now the detached sector is demonstrating some steadiness in terms of pricing, the member-based organization said.
News
Sept. 19, 2016 | Miles Durie
Changing expectations
Housing market offers some surprises, different perceptions, say local experts
A quick look at today's real estate market might not exactly fill first-time homebuyers with optimistic anticipation. Yet dig deeper and there's plenty of reason to get excited, say housing experts.
Even though home sales are down by double-digit percentages in terms of units sold and money spent compared to a year ago, the average selling price is up slightly — about two per cent, to $474,605 in August, according to CREB®.
A quick look at today's real estate market might not exactly fill first-time homebuyers with optimistic anticipation. Yet dig deeper and there's plenty of reason to get excited, say housing experts.
Even though home sales are down by double-digit percentages in terms of units sold and money spent compared to a year ago, the average selling price is up slightly — about two per cent, to $474,605 in August, according to CREB®.
News
Sept. 01, 2016 | CREBNow
Housing market tells different stories in August
Detached versus higher-density segments paint different pictures of health
Overall resale residential housing sales activity in Calgary was down again in August, totalling 1,567, reported CREB® in its monthly housing summary.
However, the organization noted this figure does not reflect the big differences in activity between the detached sector, versus the high density apartment and attached segments of the market.
Overall resale residential housing sales activity in Calgary was down again in August, totalling 1,567, reported CREB® in its monthly housing summary.
However, the organization noted this figure does not reflect the big differences in activity between the detached sector, versus the high density apartment and attached segments of the market.