Selling a home can be a complicated process and if you’ve never worked with a real estate expert before, you may wonder about benefits of doing so. Andrew Peck, president of the Canadian Real Estate Association (CREA) shares his thoughts on five benefits a REALTOR® provides to home sellers. Their number one goal is to make real estate transactions as simple and easy as possible for their clients.
Breaking it down by the numbers
Earlier this year, CREB®Now published a feature on five things you needed to know about CREB®’s 2016 Economic Outlook & Regional Housing Market Forecast. With the REALTOR® organization recently updating the document, we revisit those insights on what’s to come:
After originally forecasting 18,416 sales in 2016, CREB® is now predicting Calgary’s activity to fall to 17,321, a 3.8 per cent drop from last year. By sector, revised estimated peg detached to decline by five per cent, while attached and apartment will be down by eight and 19 per cent, respectively. Meanwhile, CREB® chief economist Ann-Marie Lurie said the year began by favouring buyers, but is exhibiting more balanced conditions in areas such as the detached sector.
Weak net migration expected to impact Calgary’s housing market
Population growth in Calgary will moderate moving forward and contribute to a decline in housing demand, according to a market brief issued earlier this month by Canada Mortgage and Housing Corp. (CMHC).
In the release, the national housing agency noted net migration is expected to remain relatively weak over the next two years, which will have a trickle-down effect on the local real estate market.
CREB®Now breaks down five things you need to know about how population will impact housing demand in Calgary this year and next.
New report paints mid-term picture
RBC Economics economist Craig Wright and Robert Hogue say the provincial recession continues to weigh on housing demand in Calgary, and such weakness is increasingly undermining prices.
In the bank’s Canadian Housing Health Check released this week, the report’s authors note the drop in property values has been generally modest to date; however, the pace of decline has accelerated and further downside remains.
Here are five things to know about contributors to Calgary’s housing health so far this year:
Tips on who is responsible and for what
The smoke continues to clear from the devastating wildfire in Fort McMurray, which, at one point, was estimated to be three times the size of Edmonton.
While it could still be weeks or even months before resident are able to return to the city, landlords and tenants will have questions before then. The Centre for Public Legal Education Alberta (CPLEA) is offering these five tips: