The second half of the year is here, and here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As they have recently stated in their latest market report, oversupply is slowing down within CREB, 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%. Sales activity slowed this month compared to last year by 6%, but the pullback in new listings was enough to cause inventories to fall by 13% compared to last year’s elevated levels.

While the market still favours the buyer – with 4.3 months of supply – the amount of oversupply has eased and is slowing the decline in prices. As...

Things are looking good in June! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In CREB’s latest market report, it appears that sales activity has improved 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% 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.

According to CREB® chief economist Ann-Marie Lurie,

“While sales activity remains low based on historical activity for May, the easing prices have...

Ready for month number five for this year? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In CREB’s latest press release, they have mentioned that April 2019 has brought a slight inventory decline along with it, while there have been “no significant changes occurring in sales activity.”

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.

According to CREB chief economist Ann-Marie Lurie,

“Demand remains relatively weak in the resale market. However, if supply levels continue...

Are you ready for the second quarter of 2019? Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

According to CREB’s latest market report, March saw a modest decline in city wide sales activity compared to last year. However, sales have been rising for more affordable product in the detached and attached sectors.

Shifts in the lower end of the market have not outweighed easing across the higher priced product. First-quarter sales dropped to 3,108 units. This is 9% below last year and 28% below typical levels of activity.

Price declines and relatively slow sales activity are impacting the number of new listings. For the second consecutive month, new listings eased compared to last year’s levels and long-term trends, but it was not...

And just like that we’re entering the last month of the first quarter of 2019! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

According to CREB’s latest media release, the markets are still looking a little chilly as of February 2019.

Particularly, prices are being affected by weak sales activity and elevated inventory, mostly as a result of Calgary’s current economic climate.

While the market remains oversupplied, slower sales and price declines do appear to be influencing sellers. New listings this month eased by eight per cent compared to last year for a total of 2,211 units. However, the 976 sales this month were not enough to substantially impact inventories levels, which remain elevated at 5,885 units.

As noted by...

Curious to know how the markets fared at the start of the year? Well here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

As found in their most recent media release, 2019 kicked off with slow sales, and the market remains at a sluggish pace.

The number of new listings entering the market remained comparable to last year, but those levels far surpassed sales activity. This is resulted in further gains in inventory levels. Elevated inventories relative to sales caused months of supply to rise to nearly seven months.

According to CREB chief economist Ann-Marie Lurie,

“The slow start to the year does not come as a surprise, as concerns about job losses and the state of the energy sector weigh on consumers. We anticipate that the slow market...

Hello, 2019! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In their latest media release, CREB has highlighted that job market weakness and lending restrictions was a common thread in 2018’s housing market.

As of December 2018, an oversupply continues in Calgary’s housing market. Prices for the month were lower compared to both the previous month, as well as the previous year.

According to CREB Chief Economist Ann-Marie Lurie,

“Persistent weakness in the job market and changes in the lending market impacted sales activity in the resale market this year. This contributed to elevated supply in the resale market, resulting in price declines.”

Regarding sales, a total of 794 units were recorded for the month, which...

We’ve made it to December, and here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In their most recent market update and official press release, it appears that challenging economic conditions continue to impact the resale market within CREB.

Sales activity has shown a 14% decline for the year so far, and is nearly 20% below long-term averages.

According to CREB Chief Economist Ann-Marie Lurie,

“Recent challenges in the energy sector have weighed on consumer confidence over the past month. Combined with weakness in the employment market and further gains in lending rates, this is impacting ownership demand. Higher inventories and weaker sales are resulting in buyer’s market conditions and price declines.”

CREB President...

It’s time for the monthly market updates for areas covered by the Calgary Real Estate Board (CREB), and for October, CREB has noted that there is an oversupply in the housing market that is affecting prices.

In their most recent press release, CREB has reported that benchmark prices in the City of Calgary has been trending down for the fifth month in a row, thus resulting in a YoY decline of 2.9%.

The report also stated that for each of the property types, “sales activity has improved in the lower price ranges, leaving most of those segments relatively balanced. However, the upper end of the ranges has seen significant gains in supply compared to demand, which is likely having more of an impact on prices in those ranges.”

According to CREB chief economist Ann-Marie Lurie,

In this month’s updates for movement within areas covered by the Calgary Real Estate Board (CREB), sales continue to decline as there has been no change in the region’s economic climate.

According to CREB’s latest press release, total sales activity has shown a 13% decrease versus the previous year, and is “well below long-term averages.”

CREB’s Chief Economist, Ann-Marie Lurie, stated that

“Calgary’s economy continues to struggle with unemployment, which rose again last month to over eight per cent. Concerns in the employment market, higher lending rates and shaken confidence are weighing on housing demand. At the same time, supply levels continue to remain high, resulting in persistent oversupply and price declines.”

Meanwhile CREB President...