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Economic outlook for Alberta

March 1st, 2019

Economic Outlook for Alberta – and by extension Calgary


Recently I have focused on month by month changes in the Calgary Real Estate Market.  In the short term I do not see any major change in direction for the market. 

Here is an update on some significant projects at various stages of completion:

  1. The BC LNG project, should have some indirect benefit during construction. More importa ...

Calgary Real Estate Outlook February 1, 2019

February 4th, 2019

Calgary Real Estate – February 1, 2019

Our Real Estate market continues to struggle with low sales numbers and too many properties on the market relative to sales as can be seen by the attached graph. This graph shows inventory/sales (green line) trending upwards and bench mark prices trending downwards.  Overall sales are down by 16% y/y and benchmark prices are down by 4%

If you believe t ...

Historical Review - Calgary Home Prices

October 13th, 2018

Historical review of Calgary home prices vs the National average

This data is from the Teranet National Bank.  What can be seen from the graph below is that from 2000, when this data started, till 2005 Calgary Home Price Index (HPI) was almost identical with the national average. Then, with the boom in oil prices the Calgary market took off. Calgary outperformed the national average till 201 ...

Economics of Buying vs Renting

September 20th, 2018
This article in Canadian Real Estate Wealth grabed my attention:

It is by Will Dunning of Mortgage Professionals Canada

The Coles notes version says that owning in Canada is becoming more advantageous in the long run than renting.

I would say that for the Calgary market this will be doubly true if Canada can get one or two pipelines built!

The full article can be found here:  https://bit.ly/2xpQm ...

House Price Index - Calgary

September 12th, 2018
Summary of the House Price Index in Calgary (HPI) This shows that with some selected exceptions the house prices in Calgary have remained relatiavely constant over the last two years.

For this to change, we need those pipelines built!

Calgary NW The Hamptons

September 4th, 2018
Hamptons - Real Estate Sales
Sold last 90 days - As of August 31, 2018
  Units List/Sold $ DOM
Active 5 363,740 59
Sold 1 340,000 190
0.33 sell/month. Therefore 15 months of inventory
Sold $ = 97.1% of List price
Single Family  
Active 25 860,757 62
Sold 21 737,7 ...

Calgary Real Estate sales Augusty 2018

September 4th, 2018

Summary of sales August 2018

Calgary continues to struggle with high unemployment at 7.9%  Tighter lending and competition from new home sector are contributing to slow sales leading to a y/y price decline of 2.7%. The condominium apartment sector has struggled for years with oversupply but now has a y/y price decline of 2%.

Prices and sales remain variable depending of style of property an ...

Citadel Real Estate Sales

August 22nd, 2018
Citadel - Real Estate Sales
As of August 22, 2018
  Units List/Sold $ DOM
Active 13 289,477 86
Sold 5 240,300 74
1.67 sell/month. Therefore 7.8 months of inv.
Single Family  
Active 40 479,197 49
Sold 31 434,963 49
10.3 sell/month. Therefore 3. ...

Calgary economy and energy projects in Canada

August 1st, 2018

This is my first positive assessment of the Calgary Real Estate marketplace in some time!  Based on activity from several fronts I see significant price increases in the coming years.

With today’s interest rate hike and the possibility of more to come, even this could be considered good news.  This shows that the economy is doing well and inflation is becoming an issue. Inflation means that ...

Bank of Canada Interest rate hike

July 12th, 2018

From:  Mortgage Broker News.ca by Andy Blatchford

OTTAWA _ The Bank of Canada raised its benchmark interest rate Wednesday in an economy that it predicts will remain resilient even as it faces an even bigger bite from deepening trade tensions.

The rate hike was the central bank's first interest rate move in six months and lifted the trend-setting rate to 1.5 per cent, up from 1.25 per cent. ...

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