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.”

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Building progress

2017 brought positive news for the new-home market, but there’s still room to improve

Will 2018 bring good news or bad news for Calgary’s new-home market? As with many aspects of the real estate market, it depends on your focus.

“Looking at Canada Mortgage and Housing Corp. data, we saw an improvement in starts in both the single- and multi-family sectors in 2017,” said CREB® chief economist Ann-Marie Lurie.

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The rich colours of Mahogany

Home buyer doesn’t settle for less with her forever home

At 52, Leah Barber knows what she wants. The recently divorced mother of a university-aged son was clear on her must-haves when she began shopping for a new home.

Top priorities were a home with great curb appeal and a big deck adjoining the great room – a sunny spot where she could relax after a long day at work. Add to that a double master plan, so that when her son was home from school, he would have his own space. In addition, she had specific layout requests, including a smaller footprint – small enough to be low maintenance.

She found exactly what she was looking for in Hopewell’s Xeno model — a 1,300 square foot, laned home with a double master plan and front kitchen in the southeast lake community of Mahogany.

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Q&A with CREB® chief economist Ann-Marie Lurie

CREB® chief economist Ann-Marie Lurie has seen a bit of everything in 2016. From buyers’ conditions to migrational changes, Calgary’s housing market has taken industry observers like herself on a wild ride over the past 12 months.

CREB®Now recently had the chance to sit down with Lurie and reflect on 2016. Here’s what she had to say:

CREB®Now: Did 2016 play out the way you expected?

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