Housing affordability across the country

Housing affordability has been the talk of the nation in recent years, especially as tighter mortgage regulations and higher borrowing costs have started to impact housing markets across the country.
A recent report by RBC Economic Research indicates that Calgary’s housing market isn’t out of reach for many potential homebuyers, especially when compared to the Vancouver and Toronto markets, as well as the Canadian average.

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Industry reports unearth Canadian renovation trends

The home improvement industry has become a key economic driver in the country over the last few years as more Canadians look to add value to their humble abodes.

A poll by CIBC in the spring found that 45 per cent of Albertans plan to renovate within the next 12 months. The average spend on a home renovation was expected to be $8,073. That’s nine per cent higher than a year ago, but off by 65 per cent from 2016, when homeowners said they were spending on average $23,000 to improve their homes.

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Alberta bound

Net migration figures point to housing market bounce back

It’s been a challenging year for Calgary’s resale housing market, which is still feeling the effects of two recession years in 2015 and 2016.

While the economy has rebounded, it has been at a slow pace, and this has been evident in the real estate industry. As of the end of June, year-to-date MLS® System sales in the resale market totalled 8,553 units, down 17.1 per cent in the city compared with the same period a year ago.

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