Calgary's trusted source of real estate news, advice and statistics since 1983.
Stories Tagged - inventory
News
March 05, 2016 | Jamie Zachary
5 things about February housing stats
Calgary's real estate market, by the numbers
Calgary's resale residential housing market in February was virtually unchanged from previous months, highlighted by sales declines, inventory gains and, ultimately, price softness.
CREB®Now breaks down some of the key statistics to come out of CREB®'s monthly housing summary.
$445,000
The benchmark price for a home in Calgary last month was $445,000, a 0.6 per cent decline over January and 3.5 per cent lower than levels recorded last year.
Calgary's resale residential housing market in February was virtually unchanged from previous months, highlighted by sales declines, inventory gains and, ultimately, price softness.
CREB®Now breaks down some of the key statistics to come out of CREB®'s monthly housing summary.
$445,000
The benchmark price for a home in Calgary last month was $445,000, a 0.6 per cent decline over January and 3.5 per cent lower than levels recorded last year.
News
March 01, 2016 | CREBNow
Housing sales slower than typical February
Monthly prices decline for fifth consecutive month: CREB
February sales totaled 1,127 units in Calgary, a 6.63 per cent drop over last year and 37 per cent lower than long-term averages for the month, according to CREB®.
In its monthly housing summary, CREB® reported citywide unadjusted benchmark prices totaled $445,000 last month, a 0.63 per cent decline over January and 3.45 per cent lower than levels recorded last year.
"Slow sales and elevated housing inventory has resulted in further price declines," said CREB® chief economist Ann-Marie Lurie. "Given the current economic environment, it is no surprise that consumer confidence and housing demand is being impacted."
February sales totaled 1,127 units in Calgary, a 6.63 per cent drop over last year and 37 per cent lower than long-term averages for the month, according to CREB®.
In its monthly housing summary, CREB® reported citywide unadjusted benchmark prices totaled $445,000 last month, a 0.63 per cent decline over January and 3.45 per cent lower than levels recorded last year.
"Slow sales and elevated housing inventory has resulted in further price declines," said CREB® chief economist Ann-Marie Lurie. "Given the current economic environment, it is no surprise that consumer confidence and housing demand is being impacted."
News
Jan. 12, 2016 | Cody Stuart
5 things about CREB®'s 2016 Forecast
A cloud of uncertainty hangs over top of Calgary's housing market in 2016. To help anxious buyers and sellers, here are a few key numbers from CREB®'s 2016 Economic Outlook & Regional Housing Market Forecast that will shed some light on what's to come.
18,416
After posting 25,543 sales in 2014 and 18,830 in 2015, CREB® is predicting Calgary's resale housing market to decline slightly in 2016 to 18,416 – below the 10-year average. Sales are expected to be down 2.5 per cent in the detached sector, 1.5 per cent in attached and two per cent in apartments. According to CREB® chief economist Ann-Marie Lurie, the beginning of the year will find Calgary in a buyer's market.
18,416
After posting 25,543 sales in 2014 and 18,830 in 2015, CREB® is predicting Calgary's resale housing market to decline slightly in 2016 to 18,416 – below the 10-year average. Sales are expected to be down 2.5 per cent in the detached sector, 1.5 per cent in attached and two per cent in apartments. According to CREB® chief economist Ann-Marie Lurie, the beginning of the year will find Calgary in a buyer's market.
News
Jan. 12, 2016 | Carl Patzel
Familiar playbook
Surrounding region's housing market to be similarly impacted by sluggish economy: CREB®
The resale residential housing market surrounding Calgary is expected to feel the pinch from a sluggish provincial economy, with prices facing downward pressure from slower sales activity.
In CREB®'s 2016 Economic Outlook & Regional Housing Market Forecast, chief economist Ann-Marie noted Airdrie and the Rockyview and Foothills regions will face similar conditions as that within Calgary.
"The resale residential housing market outside of Calgary will face the same macro-economic influences on housing demand as those within the city in 2016," she said, noting each area will have its own set of circumstances that will influence supply, demand and prices.
The resale residential housing market surrounding Calgary is expected to feel the pinch from a sluggish provincial economy, with prices facing downward pressure from slower sales activity.
In CREB®'s 2016 Economic Outlook & Regional Housing Market Forecast, chief economist Ann-Marie noted Airdrie and the Rockyview and Foothills regions will face similar conditions as that within Calgary.
"The resale residential housing market outside of Calgary will face the same macro-economic influences on housing demand as those within the city in 2016," she said, noting each area will have its own set of circumstances that will influence supply, demand and prices.
News
Jan. 12, 2016 | Cody Stuart
On the horizon
Resale housing market expected to navigate ominous conditions in 2016
The year was 2014. The price of oil was soaring sky high, and, like so many other sectors, Calgary's housing market was along for the ride.
What a difference a few years make.
Following the collapse of worldwide oil prices and subsequent cooling of the city's once red hot housing market, the arrival of 2016 now finds Calgary in a time of uncertainty.
In its 2016 Economic Outlook & Regional Housing Market Forecast, CREB® expects resale sales activity to decline by 2.2 per cent from 2015 levels to 18,416 units, and the benchmark price by 3.44 per cent to $438,652.
The year was 2014. The price of oil was soaring sky high, and, like so many other sectors, Calgary's housing market was along for the ride.
What a difference a few years make.
Following the collapse of worldwide oil prices and subsequent cooling of the city's once red hot housing market, the arrival of 2016 now finds Calgary in a time of uncertainty.
In its 2016 Economic Outlook & Regional Housing Market Forecast, CREB® expects resale sales activity to decline by 2.2 per cent from 2015 levels to 18,416 units, and the benchmark price by 3.44 per cent to $438,652.
News
Dec. 23, 2015 | CREBNow
A look back at 2015 with CREB®'s chief economist
The year according to CREB®'s Ann-Marie Lurie
With the calendar set to turn on what's been a turbulent year in the city's real estate industry, many will wondering what to expect in 2016 and beyond. To help provide a little clarity on just how we got here, as well as a hint as to where we're headed, CREB®Now enlisted CREB® chief economist Ann-Marie Lurie to provide some end-of-year insight.
CREB®Now: ?How would you sum up 2015 in Calgary real estate?
Lurie: It has been a year of weaker demand – definitely challenging economic times resulting in weaker demand. As a result there has been some more inventory than we are used to in the market and there has been some downward regression on pricing. It's completely consistent with what the economic situation has been.
With the calendar set to turn on what's been a turbulent year in the city's real estate industry, many will wondering what to expect in 2016 and beyond. To help provide a little clarity on just how we got here, as well as a hint as to where we're headed, CREB®Now enlisted CREB® chief economist Ann-Marie Lurie to provide some end-of-year insight.
CREB®Now: ?How would you sum up 2015 in Calgary real estate?
Lurie: It has been a year of weaker demand – definitely challenging economic times resulting in weaker demand. As a result there has been some more inventory than we are used to in the market and there has been some downward regression on pricing. It's completely consistent with what the economic situation has been.
News
Dec. 23, 2015 | Cody Stuart
2015: Year in review
A look back at Calgary's resale residential housing market
If nothing else, 2015 was an interesting year for Calgary's housing market.
While it remained resilient even while oil prices began to slide, the conditions that arose as 2014 drew to a close signaled a change was in the air.
And so as Christmas came and went, December 2014 saw the first year-year-year sales decline following 11 consecutive months of year-over-year growth. And with little expectation that things would change, once-lofty expectations gave way to a more realistic outlook.
If nothing else, 2015 was an interesting year for Calgary's housing market.
While it remained resilient even while oil prices began to slide, the conditions that arose as 2014 drew to a close signaled a change was in the air.
And so as Christmas came and went, December 2014 saw the first year-year-year sales decline following 11 consecutive months of year-over-year growth. And with little expectation that things would change, once-lofty expectations gave way to a more realistic outlook.
News
Dec. 01, 2015 | CREBNow
Housing market conditions favour buyers: CREB®
Weak sales activity relative to inventory places downward pressure on prices
Persistently high inventory levels within Calgary's residential resale housing market, combined with weak sales activity, contributed to buyers' conditions in November, according to CREB®'s monthly housing summary, released Tuesday.
Monthly sales totaled 1,263 units, a 28 per cent decline from last year and nearly 20 per cent below the 10-year average.
Meanwhile, the amount of new listings in the market increased by five per cent over last November, and moved five per cent above 10-year average.
Persistently high inventory levels within Calgary's residential resale housing market, combined with weak sales activity, contributed to buyers' conditions in November, according to CREB®'s monthly housing summary, released Tuesday.
Monthly sales totaled 1,263 units, a 28 per cent decline from last year and nearly 20 per cent below the 10-year average.
Meanwhile, the amount of new listings in the market increased by five per cent over last November, and moved five per cent above 10-year average.
News
June 03, 2015 | CREBNow
Construction connection
Resale market impacting housing starts outlook
The sound of hammers has quieted in Calgary.
Following a record-breaking year for new home construction in the city, the pace has slowed considerably in 2015.
Through the first five months of year, the number of new homes starts in Calgary has numbered 3,954 – a 32.5 per cent drop from the same period in 2014.
The decline was even more dramatic in April, with just 777 homes breaking ground during the month compared to 1,952 during the same time last year – a decline of more than 50 per cent.
The sound of hammers has quieted in Calgary.
Following a record-breaking year for new home construction in the city, the pace has slowed considerably in 2015.
Through the first five months of year, the number of new homes starts in Calgary has numbered 3,954 – a 32.5 per cent drop from the same period in 2014.
The decline was even more dramatic in April, with just 777 homes breaking ground during the month compared to 1,952 during the same time last year – a decline of more than 50 per cent.
News
May 01, 2015 | CREBNow
New listings decline as home prices ease
Improved sales to new listings ratio reduces inventory gains
After the fifth consecutive monthly benchmark price decline in Calgary, the number of new home listings eased to 3,064 units in April, an 18 per cent decrease over the previous year.
"With fewer buyers making purchase decisions and improved selection for resale, new home and rental property, sellers have been either adjusting their expectations on price or delaying their plans about when to list their home," said CREB® president Corinne Lyall.
After the fifth consecutive monthly benchmark price decline in Calgary, the number of new home listings eased to 3,064 units in April, an 18 per cent decrease over the previous year.
"With fewer buyers making purchase decisions and improved selection for resale, new home and rental property, sellers have been either adjusting their expectations on price or delaying their plans about when to list their home," said CREB® president Corinne Lyall.
