Mid-year market update shows stability

CREB® forecasts a process of recovery for the remainder of 2017

The first-half of 2017 marked a shift in Alberta’s economy from recession to recovery, with conditions supporting stability rather than expansion.

“Economic challenges continue to exist, as high unemployment rates, weak migration levels and more stringent lending conditions are weighing on the housing market,” said CREB® chief economist Ann-Marie Lurie.

“This will continue to cause some adjustments in the housing market for the remainder of this year. However, this is not expected to offset earlier gains supporting general stability in 2017.”

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Look of luxury

While many people have grand aspirations when it comes to the aesthetic of their home, not everyone has the money to pay for a beautifully designed luxury home or a series of expensive renovations. Thankfully, there are a number of quick and easy ways to achieve a luxurious look in any room without the luxury price tag.

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A work in progress

Market sees modest inventory gains, but overall prices inch up 

Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year.

Citywide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to-date sales activity totaled 11,957 units, nine per cent above last year.

“Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement,” said CREB® president David P. Brown.

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View from the top

Overture at Currie Barracks offers luxury living in one of Calgary’s most exclusive and accessible communities

For homebuyers looking to downsize while maintaining the luxurious feel and amenities of a much larger space, a penthouse condo at Overture in Currie Barracks could be the perfect fit.

Overture is a four-storey, three-building collection of 63 upscale, executive, single-level living residences and penthouse condos brought to life by Jayman Modus. However, only two fourth-floor penthouse condos are still available – interested homebuyers need to act fast if they want to carve out a space in this exclusive new development and in-demand community.

“These penthouse condos are the ideal setting for working professionals and mature couples looking for luxury living in a complete, central community,” said Ray Laprairie, a REALTOR® with Jayman Realty.

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