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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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Market Insider August 2019

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

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

Market Insider May 2019

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

Market Insider March 2019

HOUSING MARKET FACTS

Detached

  • After the first two months of the year, detached sales were 1,079 units. This is 13 per cent below last year’s levels and nearly 30 per cent below long-term averages. Sales eased across all city districts except the North West. Activity remained well below normal levels across all districts of the city.
  • The adjustments in new listings ranged from a 15 per cent increase in the North West district to a decline of 23 per cent in the North district. Overall, year-to-date new listings were 2,544 units, nearly two per cent below last year’s levels.
  • Despite some adjustments in new listings, average inventories in the detached sector so far this year rose by 25 per cent compared to last year. However, some of the most affordable detached areas, including the North East and East districts, have seen inventories fall compared to last year.
  • With detached months of inventory remaining above five months, prices continue to trend down. In February, citywide detached benchmark prices were $475.600, 0.2 per cent below last month and over five per cent below levels recorded last February.

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