Market sees modest inventory gains, but overall prices inch up 

Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year.

Citywide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to-date sales activity totaled 11,957 units, nine per cent above last year.

"Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement," said CREB® president David P. Brown.

Stable prices in detached sector signal balanced conditions despite increased inventory

The Calgary housing market saw a modest improvement in sales, along with an increase in new listings, in June.

However, demand gains have not kept pace with the amount of new listings coming onto the market. This caused inventory levels to increase to 6,659 units, which is 11 per cent higher than last year's levels.

Despite the shift in inventory this month, second-quarter activity continues to demonstrate improved supply-demand balance and price stability. City-wide benchmark prices totaled $441,500 in June. This is a 0.5-per-cent increase over last month and nearly one per cent higher than last year.

What's driving Calgary's out-of-town commuters?

Calgary roads during rush hour can be a frustrating place to be on the best of days. This is especially true for commuters that choose to live outside city limits – either in communities on the fringes or in towns a stone's throw away.

However, for many of these commuters the additional time spent driving from home to work and back every day is worth it for a lifestyle and other opportunities the city can't quite offer.

"I can't say I love the drive," said Bruce McCartney.

Since moving to Springbank – a rural community west of Calgary – from Beddington two decades ago for a bigger house and lot, the database consultant has been braving the 25-kilometre drive every weekday.

Lined with charming, independent businesses and loads of historic treasures, small towns are trying to revitalize their main streets

Kelly Warrack describes the movement of businesses out of Strathmore's downtown core to the edge of town as "a fairly typical story for towns like us."

Warrack, who grew up on a farm near Strathmore, says Strathmore's Second Avenue (Main Street) was always the focal point of the town in decades past. "Main Street was the place to go," recalled Warrack, citing the presence of the feed mill, banks, the hardware store, the local Co-op and the King Edward Hotel as among the street's popular destinations. In recent times, however, Warrack says businesses have moved from downtown and have opened along the highway.

Newest townhome designs focus on livability

Mattamy Homes' latest project has the presidential stamp of approval.

More than that, the design of the two townhome style Manor series show homes in The Gates at Hillcrest in Airdrie, including the 1,698 square foot Aspen and 1,525 square foot Birch – have his hand prints all over them.

After an absence of 10 years, Don Barrineau, president of Mattamy Homes' Calgary division, decided it was time to get involved in home design again. What he found early on was that his vision of what the homes should focus on hasn't changed.

Surrounding housing market to follow Calgary's lead in 2017 after challenging conditions in 2016

Slow stabilization in Calgary's housing market in 2017 is expected to create similar momentum for satellite communities such as Okotoks, Cochrane, Airdrie and Chestermere, say local officials on the heels of CREB® releasing its 2017 Economic Outlook & Regional Housing Market Forecast.

According to the report, Chestermere in Rocky View region experienced a widening gap between sales and new listings during 2016, putting downward pressure on benchmark prices – notably detached homes, which dropped 2.5 per cent from 2015 to $490,808.

Q&A with surrounding communities

Calgary's satellite communities and their respective housing markets saw economic conditions play out in different ways this past year.

CREB®Now spoke with the mayors of Airdrie, Cochrane, Okotoks and Chestermere to get their perspectives on 2016. Here's what they had to say:

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?

Knowing your local snow clearing bylaws may not be cool, but it's necessary

Winter is coming, and with it the one chore that many homeowners dread: shoveling their snowy sidewalks and driveways.

And while snow removal is often the last thing homeowners want to do on a chilly winter day, officials say it is important in protecting the public's safety.

"Sidewalks need to be kept clean for public safety, [and] a snow removal bylaw shares that responsibility without adding to municipal costs," said Charlene Ruttle, Cochrane's manager of municipal enforcement.

Proposed bylaw looks to add stricter regulations

Airdrie's decision to follow suit with other municipalities in the province and regulate controversial ride-sharing services is redundant, costly and unnecessary, said opponents to the proposed amended taxi bylaw.

Earlier this month, the City of Airdrie unveiled the amendment that would require app-based ride-sharing companies like Uber to follow similar regulations as traditional taxi companies.

The change would require all vehicles to undergo 134-point inspections, more involved licensing upgrades requiring Class 1, 2 or 4, background/criminal records checks and hefty commercial insurance rates.