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Calgary, September 4, 2007 - Calgary's total MLS® month end inventory for the month of August 2007 was 9,634, showing the highest level recorded this year, according to figures released by the Calgary Real Estate Board (CREB®). Single family Calgary metro new listings added for the month of August totaled, 2,837, a 9.75 per cent increase over the 2,585 new listings added in August 2006. This is an increase of 11.34 per cent over the 2,548 new listings added in July 2007. Single family Calga... Read Full Post

Housing starts in the Calgary area continue to decline compared to last-year’s record-breaking performance. According to data released Tuesday by the Canada Mortgage and Housing Corporation, single-family starts in the Calgary Census Metropolitan Area were down 31 per cent in August compared to August 2006. At the same time, multiple family starts, which include semi-detached units, rows and apartments, were up 50.1 per cent. Combining the two categories, total housing starts were down by f... Read Full Post

OTTAWA, August 15, 2007 — Housing starts will moderate in 2007, reaching 220,000 units, a decrease of 3.2 per cent from 2006, according to Canada Mortgage and Housing Corporation’s (CMHC) third quarter Housing Market Outlook, Canada Edition report. Residential construction will continue to decline in 2008 to 207,200 units, yet will mark seven consecutive years in which housing starts exceed 200,000 units. “Despite high employment levels, income gains and low mortgage rates, housing star... Read Full Post

OTTAWA (CP) - Statistics Canada says the annual inflation rate was 2.2 per cent in July, the same as in June, amid higher housing costs. Analysts said Tuesday's report will give the Bank of Canada breathing room for its September decision on interest rates. In the current credit crunch, a lending rate increase has become much less likely. As markets digested the data, the Canadian dollar slipped more than half a cent at the opening. It was at 94.29 cents US after rising 0.65 of a U.S. cent on... Read Full Post

Fueled by record activity levels in the first half of the year, national MLS® home sales activity is expected to reach record levels again in 2007, according to a new residential forecast prepared by The Canadian Real Estate Association. National home sales are forecast to rise by 8.1 per cent to 523,100 units in 2007, and will set new annual records in most provinces. Activity is forecast to edge slightly lower in 2008, but will reach the second highest annual level on record in almost all ... Read Full Post

Reno rage has truly hit the flush-with-bucks wallets of Albertans. For the second year in a row, the province will record the biggest gains in the country in terms of the cash forked over by Albertans to renovate their home-sweet-homes, says a report by the Canada Mortgage and Housing Commission. Resale records account for a big part of the surge, which will see Albertans spend $5.4 billion for home renovations in 2007; a steep 23.7% increase from the $4.4 billion spent last year. "In terms o... Read Full Post

If you get knots in your stomach at the thought of buying your first home, realize that it's normal to feel that way. Most buyers go through the butterflies-in-the-gut experience. It's thrilling and exciting to shop for homes but when the day comes to an end and you can't get a certain home out of your mind, that's when the dread drops to your feet. Here are five steps to help first time home buyers purchase their first home successfully. Get pre-approved for a mortgage - In the beginning of ... Read Full Post

Calgary, August 1, 2007 - Calgary's total MLS® month end inventory for the month of July 2007 was 8,972, showing the highest level recorded this year, according to figures released by the Calgary Real Estate Board (CREB®). Single family Calgary metro new listings added for the month of July totaled, 2,548, a 6.25 per cent decrease over the 2,718 new listings added in July 2006. This is a decrease of 23.09 per cent over the 3,313 new listings added in June 2007. Single family Calgary metro p... Read Full Post

When asked how much total interest they'll pay over a 25-year mortgage, only 20 per cent of Canadians polled gave the right answer, says a survey commissioned by Toronto-based TransUnion TransUnion, a credit and information management company commissioned GfK Roper Public Affairs & Media to conduct the survey in late June, when it polled 1,000 Canadian adults across the country. Those surveyed were told, "Homeowners usually pay off considerably more money than the original value of their ... Read Full Post

Canadian housing starts slid less than expected in June but are likely to keep falling in the second half of the year, Canada Mortgage and Housing Corporation says. Housing starts dropped 4.2 per cent to a seasonally adjusted annualized rate of 225,500 units in June from an upwardly revised 235,200 units in May. Analysts polled by Reuters News Agency had expected 216,500 starts in June. After a significant rise in May, the volatile multiple segment lost most of the ground it gained in June, C... Read Full Post