Announced today, September 21, 2022... DeHavilland is to build an aircraft manufacturing facility just east of Calgary!  Full production will be several years away. It is envisioned that there will be up to 1500 high paying jobs created.  This is great news.  One of the reasons for this decision is no doubt that Calgary is one of the lowest cost cities in Canada in which to own property, also ...

Interest Rate Projections First thing to say is that my crystal ball does not work that well!  Having said that, here is the summary of an article published today (August 30, 2022) in the Financial Post.  It is quoting Ian Pollick of CIBC.  He is predicting that the BOC will raise interest rates at their next meeting (September 7.) by between 0.50 and 0.75% maximum.  Mr. Pollick said that h ...

This graph shows Calgary as the most affordable major city in Canada.  That is why I think that prices in Calgary will do better than the rest of Canada!

Year over year the market is performing well.  Looking at Month over month (June to July 2022) the market is more stagnent.

Calgary Real Estate Market to end of July 2022 As expected the Real Estate market in Calgary is slowing.  The “Months of Supply” has been increasing for the last several months, as can be seen by the blue bars on the attached graph.  This will lead to downward price pressure if the trend continues.  Rising interest rates are tending to slow the market, while the high price of energy is help ...

US Federal Reserve Increases its key rate by 0.75% - July 27, 2022 The US is struggling to rein in inflation (9.1% last month) while trying to avoid a recession.  The target growth in inflation is 2% per year. Federal Reserve Chairman Jerome Powell said parts of the economy are slowing, but he still expects that the Fed will continue to raise interest rates in the near future. What happens ...

This is a quick update in case you missed it... Yesterday the bank of Canada raised interest rates by a full percentage point.  The largest interest rate increase since 1998! This will have impacts on housing sales and prices across the country.Wishing you all the very best!Paul

The rental market for one and two bedrrom appartments has been very strong in Calgary, increasing by almost 5% month over month and 15% year over year!  This is according to the rental market report by zumper.com.

Hello All!The attached graphic shows that while the properties in Calgary are starting to take slightly longer to sell there is still nowhere near enough inventory available to stop prices from increasing!  This may change as intrest rates are predicted to rise.  If you are planning to buy a property soon, get your interest rate locked in by talking to a Mortagae Broker.Best wishes for a wond ...

Calgary Housing Summary to March 31, 2022 Single Family Detached property has increased significantly again (4.0% this month). What is super interesting is that the NE section of Calgary (where prices for property are the lowest) had the highest rate of increase at 6.7% month over month.  We also see that apartment condominiums while not increasing as quickly as single family property are p ...