Passing the torch

The games are gone, but its legacy lives on

W hile the Olympic flame may be long extinguished, warm memories and many benefits of the 1988 Winter Olympics in Calgary are alive and well 30 years later.

“The best thing about the Olympic experience was the forethought that went into its legacy,” said Dale Oviatt, senior manager of communications and stakeholder engagement for WinSport.

On Sept. 30, 1981, WinSport, formerly known as the Calgary Olympic Development Association (CODA), successfully won the bid from the International Olympic Committee for Calgary to host the XV Olympic Winter Games in 1988.

(more…)

Read More

Housing market deja vu in January

As expected, Calgary sales activity similar to last year

The new year opened predictably, with monthly figures close to the Januarys of the past three years.

With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector.

(more…)

Read More

Adjusting expectations

Adversity in condo market to continue in 2018

If you’re a condo owner in Calgary, you may be telling yourself that “what goes down must come up,” but it’s a fine line between thoughtful analysis and wishful thinking.

“The condo-apartment sector is still facing a lot of challenges,” said CREB® chief economist Ann-Marie Lurie.

“While sales improved in 2017, it wasn’t enough to keep pace with new listings, so we still had price declines.”

(more…)

Read More

Give and take

Calgary housing market to see more of the same in 2018, as sales activity holds steady and listings ease

In 2018, the Calgary housing market will face a new reality of slower growth amidst higher interest rates and more restrictive mortgage lending rules.

While that new reality should be moderated by a modest uptick in the still-recovering local economy – assuming continuation of the job growth and net migration recorded last year – CREB® anticipates flat sales and prices for resale product compared to 2017.

(more…)

Read More

Two sides of the story

December sales activity rises again, but so does supply

Sales activity for all product types improved in December and pushed monthly sales to long-term averages for the second month in a row.

However, new listings also rose, keeping inventory elevated compared to typical levels for December. With more supply remaining compared to sales, benchmark prices edged down for the fifth consecutive month.

(more…)

Read More