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Stories Tagged - Tom Westcott
News
Dec. 19, 2018 | Geoff Geddes
Q&A: Collaboration was key for outgoing CREB® president Tom Westcott
As he wraps up his one-year term as CREB® president, Tom Westcott reflects on the challenges and changes that made for a memorable 2018.
News
Oct. 24, 2018 | Kathleen Renne
Pop the question: Tom Westcott
In 2018, CREB® welcomes longtime Calgary REALTOR® and industry veteran Tom Westcott as the organization's new president. Westcott sat down with Kathleen Renne for CREB®Now to talk about his career in the industry, his passion for real estate and his thoughts on the Calgary housing market in 2018.
News
July 04, 2018 | CREBNow
Weak sales persist in Calgary and beyond
Many Canadian energy-related municipalities within Alberta and Saskatchewan have seen housing markets struggle over the past few years, resulting in price declines.
The recent mortgage rule changes and higher lending rates are factors weighing on demand and prices across some of those areas.
The recent mortgage rule changes and higher lending rates are factors weighing on demand and prices across some of those areas.
News
June 06, 2018 | CREBNow
Lending conditions weigh on housing demand
May sales activity continued to ease, with the largest declines occurring in the detached sector. Additional gains in new listings continued to increase inventory levels.
Citywide sales activity in May totalled 1,726 units, 19 per cent below last year's levels and 24 per cent below longer-term averages. Sales activity in the detached sector declined to levels not seen in over a decade.
"The impact of rising lending rates and stricter qualification levels is causing demand to ease across all product types," said CREB® chief economist Ann-Marie Lurie.
Citywide sales activity in May totalled 1,726 units, 19 per cent below last year's levels and 24 per cent below longer-term averages. Sales activity in the detached sector declined to levels not seen in over a decade.
"The impact of rising lending rates and stricter qualification levels is causing demand to ease across all product types," said CREB® chief economist Ann-Marie Lurie.
News
May 02, 2018 | CREBNow
Soft sales continue in April
Prices steady, but struggles in Alberta economy weigh on housing
Changes to the lending industry and a challenging economic recovery are weighing on sales activity in Calgary's housing market.
Supply levels have not adjusted to the weaker demand environment, and that is preventing price recovery.
"Slower sales do not come as a surprise, given the economy has not yet improved enough to offset the impact of changes in the lending industry," said CREB® chief economist Ann-Marie Lurie.
"While the rising inventories are being monitored, prices have remained relatively flat as gains in some areas of the city have been offset by declines in other areas."
Changes to the lending industry and a challenging economic recovery are weighing on sales activity in Calgary's housing market.
Supply levels have not adjusted to the weaker demand environment, and that is preventing price recovery.
"Slower sales do not come as a surprise, given the economy has not yet improved enough to offset the impact of changes in the lending industry," said CREB® chief economist Ann-Marie Lurie.
"While the rising inventories are being monitored, prices have remained relatively flat as gains in some areas of the city have been offset by declines in other areas."
News
April 04, 2018 | CREBNow
Housing market inventory on the rise
Prices remain stable compared to last year
As expected, slow sales this quarter have persisted through March in the City of Calgary. This is not a surprise, after stronger growth in sales at the end of last year following the announced changes to the lending market.
First quarter sales totaled 3,423 units, nearly 18 per cent below last year's levels and 24 per cent below long-term averages. Easing sales and modest gains in new listings caused inventories to rise and months of supply to remain above four months.
As expected, slow sales this quarter have persisted through March in the City of Calgary. This is not a surprise, after stronger growth in sales at the end of last year following the announced changes to the lending market.
First quarter sales totaled 3,423 units, nearly 18 per cent below last year's levels and 24 per cent below long-term averages. Easing sales and modest gains in new listings caused inventories to rise and months of supply to remain above four months.
News
March 07, 2018 | CREBNow
A bumpy road to recovery
Calgary housing market prices hold, but sales fall
Residential home sales declined in February, but a decline in new listings helped keep prices steady this month.
Sales totaled 1,094 units in February, 18 per cent below last year's activity. Easing sales occurred across all property types this month, which outpaced the sales growth that occurred in January. After the first two months of the year, sales activity remains well below longer-term averages.
Residential home sales declined in February, but a decline in new listings helped keep prices steady this month.
Sales totaled 1,094 units in February, 18 per cent below last year's activity. Easing sales occurred across all property types this month, which outpaced the sales growth that occurred in January. After the first two months of the year, sales activity remains well below longer-term averages.
News
Feb. 07, 2018 | CREBNow
Housing market deja vu in January
As expected, Calgary sales activity similar to last year
The new year opened predictably, with monthly figures close to the Januarys of the past three years.
With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector.
The new year opened predictably, with monthly figures close to the Januarys of the past three years.
With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector.
