Greater Calgary Real Estate Services Inc

10/07/2021

Sales remain strong in September
Oct. 01, 2021

City of Calgary, Oct. 1, 2021 – Residential sales totalled 2,162 in September, nearing the record high for the month recorded in 2005. Further gains in new listings likely supported some of the sales growth that occurred this month.

“While sales activity in the fall tends to be slower than in the spring months, the continued strong sales are likely being driven by consumers who were unable to transact earlier in the year when supply levels had not yet adjusted to demand,” said CREB® chief economist Ann-Marie Lurie. “The market continues to favour the seller, but conditions are not as tight as they were earlier this year.”

03/18/2021

https://calgaryherald.com/business/varcoe-after-one-terrible-year-three-hopeful-signs-for-alberta?fbclid=IwAR3bJAaL9ClFQ214jbcx2QGoxCI39sLw8c9Qh5dtcA20jYRN1SL7E1J7XXE

It’s been one miserable, grinding year since the pandemic came to Alberta.

03/01/2021

Sellers' market in February leads to rising prices

City of Calgary, March 1, 2021 –

With gains in every price range, residential sales activity in February totalled 1,836.
This reflects the best February since 2014.

“Despite continued COVID-19 restrictions, housing activity continues to improve. Much of the strong sales activity is expected to be driven by exceptionally low mortgage rates,” said CREB® chief economist Ann-Marie Lurie.

“Confidence is also likely improving as vaccine rollouts are underway. Additionally, some of the worst fears concerning the energy sector are easing with recent gains in energy prices.”
New listings also improved in February, but the gap between new listings and sales narrowed. This is causing the sales-to-new-listings ratio to rise to 65 per cent, keeping the months of supply well below three months.

02/25/2021

https://www.crebnow.com/eight-tips-for-saving-money-on-your-home-insurance/

For homeowners, insurance is an inescapable expense that can quickly add up when stacked on top of other financial obligations like a mortgage, property taxes and utilities. That’s why it’s important to make sure you’re getting the best deal possible – even a few small discounts applied to y...

02/19/2021

https://mailchi.mp/1e74c3570680/real-estate-thoughts-feb-2021?fbclid=IwAR2OHG3jU6s24zP4YwMzStOkUytJKUgT7IZHdf9Lu_1pCd2WFACTW5ntzoo

02/09/2021

January sales signal strong start to 2021
Feb. 01, 2021

City of Calgary, February 1, 2021 –

January sales were the highest they have been for the month since 2014, as housing market momentum from the end of 2020 carried over into the start of 2021.

Sales activity improved across all product types and across all price ranges.

“Discount lending rates are exceptionally low, which is likely attracting all types of buyers back into the market,” said CREB® chief economist Ann-Marie Lurie.

“New listings in the market were also slightly higher than what was available over the past two months, which is providing more options to purchasers.”

January’s new listings were 2,246 relative to the 1,208 sales in the market, causing inventories to edge up over December levels. These types of movements are typical for January, but 2021 is starting the year with 4,035 units in inventory. This is far lower than the past six years.

02/01/2021

SOLD to my Buyer (unit on 9 th Floor) 2 beds & 2 bath overlooking downtown and mountains for $257,500! (Great time to buy good Condos; in high time the price would have been around $340,000)

01/26/2021

Media release: Modest gains in Calgary hMedia release: Modest gains in Calgary housing market expected in 2021

Calgary, Jan. 26, 2021 – In 2020, housing markets across the country surprised many with a stronger-than-expected rebound in the second half of the year despite record-high unemployment rates and significant job losses.

Calgary did not hit record-high sales or prices in the third or fourth quarters, but still posted some of the strongest sales relative to the past five years. This was nearly enough to offset the initial losses recorded during the first shutdown caused by the pandemic.
“It is expected some of the momentum recorded at the end of 2020 will continue into 2021, fueled by exceptionally low lending rates and pent-up demand,” said Ann-Marie Lurie, CREB® Chief Economist.

“While sales are expected to rise by nearly five per cent on an annual basis in 2021, persistent economic challenges are expected to prevent stronger growth in our housing market.”

Reduction in supply relative to sales is the primary reason the Calgary housing market returned to more balanced conditions by the end of 2020. The pullback in new listings relative to sales activity resulted in inventory levels falling to the lowest levels seen in the past several years.

01/09/2021

Amidst economic challenges housing market ends 2020 on a high note

City of Calgary, January 4, 2021

With December sales of 1,199, this is the highest December total since 2007.

"Housing demand over the second-half of 2020 was far stronger than anticipated and nearly offset the initial impact caused by the shutdowns in spring. Even with the further restrictions imposed in December, it did not have the same negative impact on housing activity like we saw in the earlier part of the year," said CREB® chief economist Ann-Marie Lurie.

Attractive interest rates along with prices that remain lower than several years ago have likely supported some of the recovery in the second half of the year. However, it is important to note that annual sales activity declined by one per cent compared to last year and remain well below long-term averages.

New listings in December increased by 11 per cent. However, the number of sales exceeded the number of new listings in December contributing to further declines in inventory.

09/02/2020

August home sales consistent, but COVID-19 impacts continue

City of Calgary, September 1, 2020 –

Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors.
These gains offset declines in the apartment and semi-detached products.

With 1,573 sales in August, this is consistent with levels over the past five years. Year-to-date sales activity remains nearly 13 per cent below last year.

“Recent national reports have shown a bounce back to new record levels over the past several months. Calgary has seen improvements over the lows recorded during the lockdowns but is far from record levels,” said CREB® chief economist Ann-Marie Lurie.

Full Report at:

Total residential sales in August were relatively stable compared to last year with year-over-year gains in the detached and row sectors.

08/05/2020

Detached and semi-detached home sales rise, but economic uncertainty remains

August 04, 2020

City of Calgary, August 4, 2020 –

With higher sales for both detached and semi-detached product, July sales totals rose above last year’s levels. Despite the improvements in July, year-to-date sales remain 15 per cent lower than last year’s levels.

“There have been improvements relative to the lowest sales levels caused by COVID-19, but it is too early to say things are shifting back to pre-pandemic levels,” said CREB® chief economist Ann-Marie Lurie.

“We are still facing record high unemployment rates, significant government aid, and uncertainty throughout the business community. This will continue in the coming months

FULL REPORT AT:

With higher sales for both detached and semi-detached product, July sales totals rose above last year’s levels. Despite the improvements in July, year-to-date sales remain 15 per cent lower than last year’s levels.

06/06/2020

https://business.financialpost.com/executive/mortgage-rules

New rules will cut Canadians’ home buying power by almost 12%