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

Rinse and repeat

Housing experts predict Calgary’s rental market to see another year of high vacancies, low rents

Calgary’s rental housing market this year will not change much from 2016 as historically high vacancy rates will continue to usher in incentives and lower rents, say experts.

“We expect the vacancy rate to remain close to 2016 levels” said Richard Cho, Calgary-based principal market analyst for Canada Mortgage and Housing Corp. (CMHC).

(more…)

Read More

Core issues

Downtown office commercial market to see higher vacancy rates in 2017

Despite setting a third-quarter record with a reported $11.2 billion in sales, Calgary’s commercial real estate sector will likely see vacancy rates continue to soar this year and next, predicts real estate firm CBRE Ltd.

CBRE Calgary-based managing director Greg Kwong said the downtown market will feel it the hardest, with vacancy rates that are expected to close in on 30 per cent.

(more…)

Read More

‘People need to plan to weather storms:’ Minhas

CREB®Now sits down with 2017 CREB® Forecast and Tradeshow keynote speaker Manjit Minhas

Manjit Minhas is a name brand – literally. She’s CEO and co-founder of Minhas Breweries & Distillery, makers of Boxer Lager, Lazy Mutt Ale and Huber Bock. And for the past two years, she’s gained national fame as a Dragon on CBC’s Dragon’s Den. In January, Minhas will be the keynote speaker at the 2017 CREB® Forecast and Tradeshow.

CREB®Now recently had the opportunity to sit down with her to get a sneak peek at what she plans to talk about.

(more…)

Read More