All Blog Entries by Jeff Jackson 
There are currently 22 blog entries published by Jeff Jackson.
April Calgary Real Estate Sales Statistics
Tuesday, May 1st, 2012 at 2:43pm. 24 Views, 0 Comments.
For the month of April 2012, year-over-year sales activity improved across all sectors in the city. Calgary residential sales total 2,200 for the month, a 26 per cent increase over levels recorded last year.
“The growth in full-time employment, combined with improving migration levels, is translating into improved demand for housing,” says Ann-Marie Lurie, CREB® chief economist. “While sales growth does seem exceptionally strong, it is important to keep in perspective that the sales activity in Calgary is returning to levels more consistent with the long-term average.”
The single-family market continues to tighten, with months of supply dropping below three months. Sales growth continues to outpace new-listings activity, placing downward…
Calgary Single Family Homes Lead Growth
Monday, April 2nd, 2012 at 6:31pm. 39 Views, 0 Comments.
Residential sales continued to rise in March 2012, reaching 2,167 units, an increase of 12.6 per cent over last March.
“The rise in activity is related to the continued improvement of our economy and consumer confidence, as some concerns regarding the global economy have eased,” says Ann-Marie Lurie, CREB chief economist.
After the first quarter of 2012, sales are up by 7.3 per cent over the same time last year. While the increase is significant, when compared to historic activity, residential sales continue to remain below the long-term trend. Monthly new listings remain slightly lower than last year, whereas year-to-date figures show 7.2 per cent fewer listings have come onto the market in the first quarter of this year.
“While the number…
Rising Sales Activity Seen in Calgary
Thursday, March 1st, 2012 at 6:09pm. 82 Views, 0 Comments.
According to the data released by the Calgary Real Estate Board, sales activity has improved across all residential sectors when compared to a year ago. February 2012 saw sales activity in the metro Calgary area up by nearly 12 percent compared to February 2011.
Bob Jablonski, CREB President: “City sales were boosted by a lot of activity in the last week of the month, this points towards the improvements that we expect to see in our spring market activity.”
Single family sales and townhouse sales drove sales figures upwards in the city of Calgary, while condo apartments continue to lag in volume of sales. There were 1,284 single-family homes sold in February 2012, a 10.9-per-cent increase over last-year figures, and a 5.6-per-cent year-to-date…
Calgary Population Growth Expected to Fuel Housing Demand
Friday, February 10th, 2012 at 10:59am. 58 Views, 0 Comments.
The 5 Fastest Growing Metropolitan areas in Canada:
| Calgary | 12.6% |
| Edmonton | 12.1% |
| Saskatoon | 11.4% |
| Kelowna | 10.8% |
| Moncton | 9.7% |
Yesterday, Statistics Canada reported that the Calgary metropolitan area had the highest rate of population growth in the country at 12.6 per cent between 2006 and 2011. The city now boasts a population of more than 1.2 million.
While industry experts dont expect the cycle to mimic the frenzy of 2006, there is little doubt that the population growth will lead to increased MLS sales and new home construction.
Ann-Marie Lurie, chief economist for the Calgary Real Estate Board, said the growing population will help support increased demand for housing in the…
Inspecting the Home Inspector
Thursday, February 9th, 2012 at 11:23am. 100 Views, 0 Comments.
I am sitting at a home inspection in South Calgary and wanted to remind our readers of the recent rule changes regarding home inspectors in Alberta. Provincial legislation enacted in September of 2011 now requires that everyone performing a home inspection must now be licensed.
The Home Inspection Business Regulation,requires all home inspection businesses and individual inspectors be licensed by the provincial government. To qualify for a licence, inspectors must have successfully completed training from an educational institution approved by the provincial government and pass a test inspection, or hold a Certified Master Inspector or Registered Home Inspector designation.
According to Service Alberta, Alberta consumers, home inspectors, and…
CMHC Backing Fewer Loans
Friday, February 3rd, 2012 at 6:02pm. 106 Views, 0 Comments.
According to an article in the Financial Post, Canada Mortgage and Housing Corp. is cutting back on mortgages it insures as the Crown corporation edges closer to a $600-billion cap imposed on it by the federal government.
Following the third-quarter, a CMHC spokesman confirmed that the agency had committed to back $541 billion in mortgages. The CMHC guarantees high loan to value ratio mortgages held by financial institutions and is backed by the federal government. “CMHC has recently received an unexpected level of requests for large amounts of CMHC portfolio insurance.” said Charles Sauriol, a spokesman for the Crown corporation.
Financial institutions are required to have mortgage-default insurance when a consumer has less than 20%…
Typical January for Calgary Real Estate
Wednesday, February 1st, 2012 at 12:44pm. 43 Views, 0 Comments.
Home sales in the City of Calgary are off to a slow start as buyers show continuing caution, according to figures released today by CREB®. “Overall, the market is behaving as expected for the winter season,” says Bob Jablonski, president of CREB®. The year-over-year volume of residential sales in the City of Calgary dropped, but the inventory of available homes declined even faster in January 2012. The City of Calgary residential market recorded 1,078 sales in January, nearly one per cent below the same month in 2011. This is in part related to the drop in new listings, which declined by 8 per cent over January 2011, causing inventory levels to continue to contract over 2011. “A lower number of sales is not uncommon…
Stable Pricing Providing Opportunities for Buyers
Friday, December 2nd, 2011 at 9:02am. 138 Views, 0 Comments.
According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in November increased eight per cent over last year, at 17,538 after the first 11 months of the year. While sales activity tends to taper off in the winter months, so far this year Calgary area sales remain significantly stronger than levels recorded last year. Single family home sales totaled 962 for the month, an increase of eight per cent from November 2010. Meanwhile, year-to-date sales totaled 12,464, a 10 per cent increase over last year. Over the long term, however, sales remained a tepid 17 per cent below the 10 year average. “Despite any global economic cautions, consumers are actively seeking well priced listings in the…
Homebuyer Confidence Holds Steady Despite Global Turmoil
Monday, October 3rd, 2011 at 3:01pm. 76 Views, 0 Comments.
According to figures released today by CREB® (Calgary Real Estate Board), residential sales continued to gain momentum in Calgary this year, totaling 14,832 after the first three quarters, a seven per cent per cent rise over last year. “Despite recent turmoil in the global economy, Calgarians are showing confidence in the long term prospects for the city and are taking advantage of affordable and stable home prices,” says Bob Jablonski, president-elect of CREB®. “Undoubtedly, there are a lot of unknowns in the world’s current financial situation, but Calgary and Alberta may be relatively safe havens amidst this uncertainty. Granted, gains in the housing market have been very gradual—but we are seeing signs of…
Homebuyers Take Advantage of Affordability & Choice
Thursday, September 1st, 2011 at 1:38pm. 117 Views, 0 Comments.
According to figures released today by CREB® (Calgary Real Estate Board), sales for upper-end homes are above the pace set a year ago. As of Wednesday August 31, there were 948 single family sales over $700,000 recorded this year, compared to 779 reported for the same period in 2010.
At the same time, sales for condos priced below $200,000 also received a boost, pointing to a growing number of first-time homebuyers taking advantage of affordability and low mortgage rates. There were 834 condo sales below $200,000 this year compared with 596 for the same period in 2010.
“We are seeing a lift in sales at both ends of the market,” says Sano Stante, president of CREB®. “Improving economic conditions coupled with affordability and price stability has…