Luxury Home Market On A Roll – Feb. 6, 2013

January 2013 sales of homes priced over $1 million were just shy of the 2007 record according to this Herald article quoting the Calgary Real Estate Board’s recent report.  Unit sales were up more than 110% over January 2012, evidencing continued strength in Calgary’s resale market, but threatening to skew the average resale price and […]

Housing Sales Off to Strong Start This year – Feb. 2, 2013

Several years of employment gains, rising incomes, low mortgage rates and population growth are cited as factors for Calgary’s January sales performance growth over January 2012, in Mario Toneguzzi’s Calgary Herald article quoting CREB chief economist Ann-Marie Lurie and CMHC senior market analyst Richard Cho.   Read More…

Calgary Best Performing Real Estate Market in Canada – Jan. 16, 2013

The Canadian Real Estate Association reports that Calgary residential sales ended 2012 up 18.6% over 2011 versus a decrease in the national average of 1.1%.  Mario Toneguzzi quoted REIN president Don Campbell as saying that, “Calgary bucked the national in 2012 as the market began to come alive, while others began to enter a long sleep”.   […]

Housing Numbers Go Through the Roof – Jan. 10, 2013

Richard Cho, senior market analyst in Calgary for CMHC, told a packed room at the CHBA – Calgary Region’s annual Forecast Dinner that Calgary blew through his forecast for 2012 constructions starts and that apartment construction starts reached their second highest level since 1981.   Read More…

Housing Prices Expected to Rise – Jan. 9, 2013

National real estate brokerage firm Royal Lepage has released their housing market forecast for 2013, indicating an expected average price increase of 2.5%.  Representatives from BMO Capital Markets and the Royal Bank are quoted as saying they believe Canadian housing markets in general, while well into a cyclical correction, remain healthy and relatively solid.   […]

Calgary Apartment Vacancy Rate Decreases in 2012 – Dec. 15, 2012

CMHC’s fall market survey indicates that Calgary’s downtown rental vacancy rate dropped to 0.5% in 2012 from an already tight 1% in 2011 due to strong interprovincial migration and Real Estate Investment Network president Don Campbell is quoted as saying this low vacancy rate should grow demand for resale housing in 2013 and new housing […]

‘Soft Landing’ Expected for Housing – Dec. 12, 2012

Financial Post writer John Shmuel reports on recent comments by Bank of Canada governor Mark Carney and Scotiabank senior economist Adrienne Warren suggesting no dramatic downward in Canadian housing is likely; and further that certain markets, including Calgary, are likely to experience continued price growth due to continued immigration and population growth.     Read […]

EDITORIAL: Firm Foundation – Dec. 10, 2012

A Calgary Herald editorial supports the growing consensus view that the Canadian government’s actions earlier this year to limit insured mortgages to those with 25-year amortizations has had a broadly positive effect in gently tempering Canada’s housing market, particularly in view of continued low interest rates, and helping reduce the risk of a dramatic correction.     […]