For the third consecutive month, sales activity improved over last year’s figures, and year-over-year new listings and inventories eased. This trend will help support more stability in the housing market.Continue reading →
Contact me today for your complimentary ticket to the Calgary Fall Home Show!
For every ticket redeemed at the show, I will donate its value to the CREB® Charitable Foundation. The foundation is able to raise funds to support a cross-section of valuable non-profits that make a lasting difference in the quality of individuals.
Sales activity increase led by lower-priced homes
Increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.
Rising sales for homes priced under $500,000 offset sales declines in the higher price ranges. This caused August sales to improve by six per cent compared to last year.
Yesterday, the Government of Canada released a number of tools and resources on the First-Time Home Buyer Incentive program page.
Here’s a list of the items you can expect to find:
- An Eligibility Calculator to test and evaluate different financial scenarios and view their impact on mortgage payments.
- A Product Highlight Sheet (PDF) including a summary of key program details in a format that is easy to download, print and share.
- A Journey Map breaking down the application process step by step.
- An Application Process diagram (PDF) showing the interactions between all of the parties involved. (Available on desktop only).
In addition, live training sessions will be available to ensure homebuyers and industry professionals alike have access to the latest tools and information pertaining to the Incentive. Three separate sessions will cover Qualification, Application Submission and Funding, plus a live Q&A period. Click here to view the full training schedule and to register for a session.
For all this and more, visit:
Sales improving and inventory declines for fourth month in a row…
For the fourth consecutive month, inventories in the market declined compared to last year. This is due to the combination of improving sales and a decline in new listings.
The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to support more balanced conditions. Continue reading →
Modest supply reductions may signal shift to balanced housing market by end of year…
A struggling energy sector continues to weigh on the overall economy. Unemployment levels remain elevated and income growth remains weak.
However, Calgary continues to benefit from stable population growth fueled by international migration and natural increases. Continue reading →
Oversupply is slowing, but a buyers’ market remains…
New listings coming onto the market continued to decline in June, which is helping to reduce the oversupply of homes in Calgary.
Year-over-year, new listings saw a decrease of nearly 19 per cent. Sales activity slowed this month compared to last year by six per cent, but the pullback in new listings was enough to cause inventories to fall by 13 per cent compared to last year’s elevated levels. Continue reading →
The First-Time Home Buyer Incentive (the Incentive) helps qualified first-time homebuyers reduce their monthly mortgage carrying costs without adding to their financial burdens.
You need to have the minimum down payment to be eligible. You can then apply for a 5% or 10% shared equity mortgage with the Government of Canada. Your maximum qualifying income is no more than $120,000 and your total borrowing is limited to 4 times the qualifying income.
Sales activity improves for second consecutive month
Sales growth in May was met with a decline in new listings. This combination eased the pressure on inventory levels, which finished the month at 7,467 units, a decline of 12 per cent compared to last year.
Improving sales relative to inventory levels caused the months of supply to ease to just under four months. While still oversupplied, this is an improvement from the five months of supply recorded last May. Continue reading →
April brings a slight inventory decline.
There have been no significant changes occurring in sales activity, but the number of new listings coming onto the market continues to ease relative to 2018 levels.
The decline in new listings was enough to start chipping away at overall inventory levels, which have eased slightly compared to last year.
The slight adjustment in supply levels has helped support further reductions in the months of supply, which was 4.6 months in April. While this level still represents oversupply in our market, it does reflect improvement from the nearly seven months of supply that we saw at the start of the year. Continue reading →