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

Hope is on the way

Inn from the Cold reports consistent number of bed stays to 2015

A haven of hope – that’s how many guests at Inn from the Cold describe Alberta’s only barrier-free shelter exclusively for families, which continues to see capacity-like numbers leading into one of its busiest times of the year.

“One of the things we’re doing here is restoring dignity,” said director of donor relations Janeen Webb.

In the face of Alberta’s ongoing economic downturn, Inn from the Cold has reported about 30,000 bed stays so far in 2016. Webb said that’s consistent with 2015 when the organization saw almost 40,000 stays by year’s end.

(more…)

Read More

Alberta home sale declines eased last month

Smallest year-over-year decline since 2014

Residential resale housing activity declines in the province eased last month, falling by 3.8 per cent to 4,611 units, according to the Alberta Real Estate Association.

The provincial organization noted September represented the smallest year-over-year decline since December 2014.

Meanwhile, the average MLS® residential price in Alberta rose 3.9 per cent from September 2015 to $396,646.

(more…)

Read More

Over-under

Housing officials cite increasing rates of overcrowding in Calgary’s housing market

Housing experts say a soft labour pool brought upon by weak economic conditions is partly to blame for increasing rates of overcrowding, or “underhousing” in Calgary homes.

RESOLVE executive director Sheryl Barlage – whose organization is made up of nine partner agencies aimed at building affordable and supported rental homes for 3,000 homeless and vulnerable Calgarians by March 31, 2018 – says about 3,500 Calgarians were considered homeless in a recent Homeless Foundation survey, with about 14,000 at risk of homelessness – and that doesn’t include people “couch-surfing.”

With the economic downturn, “we know fundamentally that number is up. It’s hard to get a handle; people are one paycheque away (from homelessness) or aren’t in appropriate housing. And the current economic climate (as well as) social issues are impacting the need. But the need has always been urgent.”

(more…)

Read More

5 things about Calgary’s housing market

By the numbers

Calgary’s housing market has remained relatively unchanged this spring. With reoccurring year-over-year sales declines and benchmark price reductions receiving most of the attention, CREB®Now takes a closer look at some of the overlooked numbers to come out of the city’s real estate market.

46
According to CREB®’s latest housing numbers, the average time a listing spent on the market before finding a new owner stood at 46 days in April. That’s up from 43 days in March and 40 days in April 2015. With 3,127 homes in Calgary’s inventory, the city currently has 2.76 months of supply, with a sales-to-new-listings ratio of 62 per cent.

(more…)

Read More