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Calgary Market Insider March 2020

This month saw a double-digit gain in sales, but last February was one of the slowest levels of activity since the late ’90s.

With the extra day this February, monthly sales totaled 1,197 units.  A combination of these two factors resulted in a 23 per cent improvement over last year, but sales remain well below longer-term trends and consistent with the lower levels reported over the past five years.

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Calgary Market Insider February 2020

Housing market conditions continue to follow similar trends to last year, with gains in sales. At the same time, there have been further reductions in new listings, inventory and more declines in prices.

January sales activity was 863 units, nearly 8% higher than last year’s levels. While sales remained well below January activity recorded before 2014, they remain consistent with activity recorded over the past five years.

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Calgary Market Insider December 2019

Year-to-date residential sales in the city remain just above last year’s levels due to improvements in the attached sector so far this year.

However, November sales activity eased over last year’s levels, mostly due to pullbacks in the apartment sector.

Meanwhile, new listings eased enough relative to sales to cause inventories to ease and the amount of oversupply to come down slightly compared to last year’s levels.

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Calgary Market Insider November 2019

Sales activity in October improved by nearly 10 per cent compared to last year, driven mostly by improvements for apartment and attached product.

New listings also eased, which helped reduce inventory levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year’s levels.

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Market Insider October 2019

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.

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Market Insider September 2019

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.

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Mid Year Market Insider

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

Market Insider July 2019

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

First-Time Home Buyer Incentive

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.

First-Time Home Buyer Incentive Webpage

Market Insider June 2019

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