joe samson's Blog: Calgary Market/Statistics

The Calgary Real Estate Board’s Annual Forecast Conference and Tradeshow was held on Wednesday, January 16, at the Round-Up Centre with an exceptional attendance of 1,700 people.Ed Jensen spoke to the crowd about the Value of a Calgary REALTOR® and ended with his forecast for 2008.   What should we expect in 2008? The following provides some highlights of the 2008 forecast:   Listings in towns surrounding Calgary are expected to drop by 5 per cent over 2007, with an extimated total of 8,600. Sales in the same category will be 5 per cent lower than 2007, with an estimated sales number of 5,000. The average price of homes in the bedroom communities is expected to rise by 5 per cent to approximately $396,000.   Calgary’s condo market will see a 5… Read Full Post

Housing starts will reach 227,530 units in 2007, an increase of 0.1 per cent from the 227,395 units in 2006, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition report. However, in 2008, residential construction will decline to about 214,000 units. Despite this drop, 2008 will mark the seventh consecutive year in which housing starts exceed 200,000 units.
“Continuing high employment levels, income gains and low mortgage rates have been a boon to Canada’s housing markets. Despite this, however, housing starts are expected to decrease in 2008,” said Bob Dugan, Chief Economist at CMHC. “The pull back in housing starts next year will be mainly due to the increases in house prices in recent…

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CREB Talk, October 19 - Sagging construction will force builders in Calgary to review their year-end estimates, says an industry official. “We were originally budgeted to do more than 600 homes, but we’ll likely have to reduce that by about 100,” says Shane Wenzel, senior vice-president of sales and marketing for Shane Homes. “I think a lot of the others will have to take another look at their numbers.” September was another slow month for single-family builders, says. Work started on 697 homes, down more than 18 per cent from the 854 started in the same month a year ago. The 6,114 starts recorded for the first nine months of this year are well off last year’s record pace of 8,304.  “Single-detached starts during the last three months of this year are… Read Full Post

Calgary Metro Area Single Family Statistics   New Listings Last 24 hrs: 103 Active Listings: 5,553 Sold, Last 30 Days: 1,111 Avg Sale Price, Last 30 Days: $ 464,556 Median Sale Price Last 30 Days: $ 420,000
** The Calgary Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR**

 

Posted by www.JoeSamson.com

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CREB Talk, October 12 - What a difference a year makes in Calgary’s new home market last year, the rate of growth in new house prices peaked at a stunning 60.6 per cent year-over-year hike in August.

On Thursday, Statistics Canada, in releasing its New Housing Price Index, said the Calgary Census Metropolitan Area recorded a more down-to-earth 6.1 per cent increase from August 2006 to August 2007 - behind the 6.5 per cent average increase for the country.

The Calgary CMA includes the city, Airdrie, the Municipal District of Rocky View, Chestermere, Cochrane, Irricana, Beiseker and

Crossfield.

Statistics Canada said new house prices remained the same in the Calgary area in August compared with July while nationally the prices rose by an average of…

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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 Calgary metro properties changing hands in August were 1,314, a decrease of 2.01 per cent from the 1,341 recorded in August 2006 and a decrease of 12.10 per cent from the 1,495 sales recorded last month.

The median price of a single family Calgary metro home in August…

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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 starts will trend downwards in 2007,” said Bob Dugan, Chief Economist at CMHC. “The slight pull back in housing starts this year and next will be mainly due to the continued growth in house prices coupled with modest increases in mortgage rates. The level of new home…

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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 Monday.

Douglas Porter of BMO Economics said the central bank will like the inflation data.

"This benign result is clearly good news for the Bank of Canada and will give them greater comfort as they wait on the sidelines for the storm to pass at the Sept. 5…

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