Housing market remains unchanged in January

Calgary’s housing market is starting 2016 firmly in buyer’s market, much the same as last year ended.

Slow sales activity and inventory gains continue to place downward pressure on prices, however the recent price retractions has not erased all the gains made in recent years. The benchmark price remains 4.41% above the January 2014 of $428,400.

The detached benchmark price for January is $509,300 a decrease of 2.60 % year-over-year. The apartment benchmark price is $281,900 a decrease of 6.35% and the attached benchmark price is $345,600 a decrease of 0.78%. Overall sales for the month totaled 763 units, compared with 877 during the same period last year.

Airdrie’s inventory increased to 326 from 289

CREB® forecasts downward pressure on prices in 2016.

With no economic change on the horizon, demand for housing in Calgary will be weak in 2016, as sales activity is expected to fall by 2.2 per cent to 18,416 units, CREB® said today in its annual forecast. The annualized benchmark price is expected to decline by 3.44 per cent to $438,652.

Weak demand and supply gains are expected in 2016, adding to an already elevated level of inventory. In this situation, the markets ability to effectively absorb more inventory will be limited, resulting in some downward price pressure across all housing sectors.

 “As we move into the second year of this environment, we expect to see additional housing supply pressure

Wondering what is really happening right now with Calgary's home prices?  

Housing Market Shifted Toward The Holiday Season!

In December monthly inventory levels declined as expected yet they were still 28 % higher than the same time last year and at the highest December level recorded since 2008. The apartment and attached sectors were notably up which neared the highest December total on record.  

While December prices for both the detached and attached sectors were lower than levels recorded at beginning of 2015, on the annual average basis they remained 1.35% and 1.84% above 2014 numbers.

The detached benchmark price for December is $508,700 a decrease of 1.91 % year-over-year. The apartment benchmark price is $285,500 a decrease of 4.96% and the

This video is a step-by-step guide for you to get started with accessing listing information through the new Matrix™ client portal. You can even conduct your own property searches.

View Highlights at:

– 1:42 How to save your favorites listings, add notes, discard listings ect…
– 2:35 Understanding the dashboard.
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– 4:19 Mobile Phone and Tablets

Jeff Campbell Team at 403-275-3331
Email Jeff@JeffCampbellTeam.com

Why you should get a rate hold now.

Very pleased to be a guest blogger for Jeff Campbell’s Real Estate Team and also pleased to work with one of the best realtors in Calgary. There are about 5,000 realtors in town and about 500 make their full-time living at it; Jeff’s team are some of the better ones for sure. The big advantages of using a top mortgage broker are listed near the end of this entry but reasons to use us should be pretty obvious by the time we get that far. Good brokers earn our salt because we watch the markets, the lenders, the rules, and the mortgage rates all day for a living. Or the good ones do anyway.

So … What is going on with these super low mortgage rates?

Right now interest rates are at their 111-year lows at about 3.4%

WinSport Canada is planning a huge retail/commercial development at Canada Olympic Park that would include a grocery store, retail stores, restaurants and two hotels, the Herald has learned.

The proposed development, subject to city approval, would be about 400,000 square feet. Retail stores would be geared to promoting healthy, active lifestyles and the hotels would accommodate 300 rooms – one family-based and a larger one with a spa and conference centre.

The proposal is currently before the City of Calgary. It includes the sale of about 22 hectares of land to a developer. The proposal is geared to complement current use at Canada Olympic Park, raise capital for the facility and create an ongoing cash flow. Dan O’Neill, president and chief

Resale activity in Calgary’s housing market is expected to pick up this year while average MLS sale prices increase slightly as well, says Canada Mortgage and Housing Corp. in a report released Thursday.

“We are anticipating a number of positive factors to benefit the housing market in 2011,” said Richard Cho, senior market analyst for Calgary for the CMHC. “Increased activity in the energy sector will support employment across a number of industries. We expect to see more full-time jobs being created and higher levels of net migration in Calgary. As such, this will support demand for home ownership as well as for rental accommodations.  

We specialize in Calgary Real Estate. If you have any questions about the Calgary real estate market, Calgary

January 17, 2011  Federal Finance Minister Jim Flaherty announced 3 changes:

1.      The maximum number of years the government will back a mortgage was lowered from 35 years to 30 years. The maximum used to be 40 and was lowered to 35 a year ago. Previously the long time standard was 25.      

o   Change will take effect March 18th.

2.      The maximum that Canadians can refinance their home is lowered from 90% to 85%.

o   Change will take effect March 18th.

3.      Government insurance backing on home equity lines of credit, or HELOCs, has been removed.
o   Change for Heloc’s no longer being insured will take effect April 18th.

The government said exceptions would be allowed after the new measures come into force when needed to satisfy a home purchase or sale

Council and administration wanted to know when Didsbury could expect to see a figure for the Mount View Lodge Project in Olds during a question and answer period between council and Sam Smalldon, interim CAO for Mountain View Housing during council last week.

The project, originally priced at $17.7 million, has undergone cost overruns from faulty construction with original contractor Stratum Developments. 

We specialize in Kincora Real Estate here If you have any questions about the Kincora real estate market, or Calgary Real Estate market,  Kincora homes for sale, or would like a free market evaluation of your home. Call the Jeff Campbell Team now 403-816-4449 or visit www.KincoraRealty.com your Kincora Real Estate experts!

So it is for single-family home builders in and around Calgary — although spring will likely come late next year, with forecasters predicting the return of the rugged winters of our youth.  Spring is a time of optimism and renewal — at least, so the saying goes.

For single-family home builders in and around Calgary, next spring will be worth the wait, says Richard Cho, senior market analyst for Canada Mortgage and Housing Corp. Detached single-family home construction will increase at a “modest” rate, he says. The delay is because the oversupplied resale housing market is still there — and what’s worse, sales are down.  To read more by Marty Hope with the Calgary Herald click here

We specialize in Calgary Real Estate. If you have any questions about