Source: KWRI - used under standard YouTube license terms.
About Real Estate Professional Tom Bushey:
Tom Bushey is an experienced Associate Broker and REALTOR® with Real Estate Professionals Inc. in Calgary, Alberta. He's passionate about family, friends, technology and specializes in northwest Calgary condos and prestige homes. He welcomes the opportunity to earn the business of you, your friends, neighbours and associates for buying or selling real estate in the Calgary area.
A return to typical sales activity in the Calgary region
Improved activity across all sectors
Calgary, May 1, 2012 – 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 pressure on inventories. As the market tightens, single-family homes are selling quicker,...
Source: KWRI - used under standard YouTube license terms.
About Real Estate Professional Tom Bushey:
Tom Bushey is an experienced Associate Broker and REALTOR® with Real Estate Professionals Inc. in Calgary, Alberta. He's passionate about family, friends, technology and specializes in northwest Calgary condos and prestige homes. He welcomes the opportunity to earn the business of you, your friends, neighbours and associates for buying or selling real estate in the Calgary area.
New listings at a good price generating a lot of activity
Calgary, April 2, 2012 – City of Calgary 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 of listings for the first quarter of 2012 remains low compared...
Source: KWRI - used under standard YouTube license terms.
About Real Estate Professional Tom Bushey:
Tom Bushey is an experienced Associate Broker and REALTOR® with Real Estate Professionals Inc. in Calgary, Alberta. He's passionate about family, friends, technology and specializes in northwest Calgary condos and prestige homes. He welcomes the opportunity to earn the business of you, your friends, neighbours and associates for buying or selling real estate in the Calgary area.
Sales Activity on the Rise Throughout the Calgary Region
Improved activity in the last week of the month boosted city sales
Calgary, March 1, 2012 – Sales activity improved across all residential sectors this month compared to a year ago, according to CREB® data released today. Calgary and area sales growth pushed February total residential activity up by 11.6 per cent compared February 2011, mainly due to increased activity in the surrounding towns.
“City sales were boosted by a lot of activity in the last week of the month,” says Bob Jablonski, CREB® president. “This points towards the improvements that we expect to see in our spring market activity.”
Single family sales and condominium townhouse sales were the bright lights 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 y...
Source: KWRI - used under standard YouTube license terms.
About Real Estate Professional Tom Bushey:
Tom Bushey is an experienced Associate Broker and REALTOR® with Real Estate Professionals Inc. in Calgary, Alberta. He's passionate about family, friends, technology and specializes in northwest Calgary condos and prestige homes. He welcomes the opportunity to earn the business of you, your friends, neighbours and associates for buying or selling real estate in the Calgary area.
The housing market pointing towards price stability
Calgary, February 1, 2012 – 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 for the month of January,” says Jablonski. “The number of sales is offset by the number...
The MLS® System Housing Price Index (HPI) is coming to Calgary in February, as part of a nationwide rollout involving boards in Canada’s largest cities. It’s an exciting new tool that CREB® has developed in cooperation with several other boards and the Canadian Real Estate Association (CREA®).
The average price in market can vary widely from month to month, depending on volume shifts in various price segments. Reporting the average price can sometimes falsely exaggerate trends, causing confusion with clients and real estate professionals alike.
The MLS® HPI is a more consistent and reliable barometer of pricing trends than average and median home prices. The average and median prices are affected by changes in the mix of homes sold and can swing dramatically from month-to-month (based on types and prices of properties that are sold in a given month). This new monthly price measure overcomes these shortcomings.
I was fortunate enough to thoroughly enjoy yesterday's Annual Forecast Breakfast and Conference for local Calgary Real Estate REALTORS®. I am always amazed at how few real estate agents actually attend this conference as this is the time of year that everyone is tweeking their 2012 business plans that they created last fall. Or they should be.
I thought that I would take a few moments to share the forecast since this is the most requested content at this time of year.
Obviously, making forecasts are difficult - especially in the turbulent world of economics these days. For the last several years the forecast has been grossly optimistic that they were almost laughable based on economic events of the time. I'm sure there were tons of blog or forum comments questioning how a bunch of professionals could come up with a forecast that was so self-serving when the economists were clearly giving substantially different viewpoints.
Canada Mortgage and Housing Corporation: Housing Market Outlook for 2012— Calgary
This Outlook report for Calgary is published semi-annually and offers forecasts and analyses of trends in the new, resale and rental housing markets. For the new home market, housing starts and price changes are examined in detail, while the resale section presents sales activity, average prices, and listings. Analysis of the rental market focuses on vacancy rates, average rents and related forecasts. An overview and forecast of key economic indicators is also detailed, along with other factors affecting the local economy and housing market.
Tom Bushey is an experienced Associate Broker and REALTOR® with Real Estate Professionals Inc. in Calgary, Alberta. He's passionate about family, friends, technology and specializes in northwest Calgary condos and prestige homes. He welcomes the opportunity to earn the...
In 2011, there were 13,186 single-family MLS sales in Calgary, up 9.06 per cent from the previous year while the average sale price increased by 1.14 per cent to $466,402. There were 5,382 condo sales, up 3.98 per cent, but the average price dipped by 0.94 per cent to $287,172.
Dan Sumner, economist with ATB Financial in Calgary, described the local housing market in 2011 as “slightly disappointing.”
“We definitely saw a rise in sales from 2010 but sales still remain quite slow compared to 10-year averages ... Prices have been flat for now 2 years and it really continued along in 2011,” he said.
Sumner said he’s cautiously optimistic for 2012.
“Overall the Canadian housing market in general I wouldn’t say it’s in a place where I’d want to put a lot of money right now if I had to bet on it,” he said. “But as far as housing markets in Canada go, I think the ones...
Tom Bushey is an experienced Associate Broker and REALTOR® with Real Estate Professionals Inc. in Calgary, Alberta. He's passionate about family, friends, technology and specializes in northwest Calgary condos and prestige homes. He welcomes the opportunity to earn the business of you, your friends, neighbours and associates for buying or selling real estate in the Calgary area.
It had been speculated that at the end of 2011 we would see an all-time record for real estate listing expirations. I really don't know if it was a record (since I couldn't find any historical data), but there sure were an awful lot of expirations. Considering 2011 was almost as a bad a year as 2010 for real estate sales (the worst year for real estate sales the last 10 years), this would make a lot of sense.
Here are some numbers as of last night for property listings within the City of Calgary:
There were 610 property listings expired in the last 2 days (15.1% of the Active Listings)
There were 677 property listings expired in the last 7 days (16.7% of the Active Listings)
Additionally, 119 property listings had their expiration dates changed. (Presumably extended)
Generally, there are a lot of properties taken off the market in mid-December (just prior to the holiday season) but this year the magic date seemed to be December 31.
2011 a year of steady improvement for the housing market
Calgary, January 3, 2012 – According to figures released this morning by CREB® (Calgary Real Estate Board), the number of Calgary residential sales in 2011 increased eight per cent over last year, with 18,568 sales for 2011 compared to 17,267 in 2010.
Recovering from tepid sales activity in the first half of 2011, early improvements in employment and migration resulted in a pickup in housing demand in the second half of the year. By the end of June 2011, year-to-date sales activity had only increased by two per cent compared to the second half of the year, where residential sales improved by 15 per cent.
“While sales activity in 2011 remained below the long run average by 17 per cent, monthly figures point towards the trend of this gap narrowing,” says Sano Stante, president of CREB®.
2011 single family sales totaled 13,186, a nine per cent increase...
Source: KWRI - used under standard YouTube license terms.
About Real Estate Professional Tom Bushey:
Tom Bushey is an experienced Associate Broker and REALTOR® with Real Estate Professionals Inc. in Calgary, Alberta. He's passionate about family, friends, technology and specializes in northwest Calgary condos and prestige homes. He welcomes the opportunity to earn the business of you, your friends, neighbours and associates for buying or selling real estate in the Calgary area.
At the end of last week, another report from one of Canada's largest banks was released in regards to the Canadian housing markets. This time it was from their research branch: TD Ecomomics (for TD Bank, TD Waterhouse, TD Canada Trust).
They report that the Canadian housing market in 2012 will be in a battle between on the one side: low interest rates, and on the other side: economic uncertainty along with slow income and employment growth.
It's forecast that there will be huge price corrections in both the metro Toronto and metro Vancouver markets which have again heated up in 2011 - especially in the apartment condo markets. Combined with the price corrections, they also forecast a higher that average sales corrections for both cities in the next two years.
TD estimates that house pricing, on a national basis, are over-valued 10 to 15 percent, although that is expected to drop over the forecast period.
According to the report, there has been little upward pressure...
The prospect of having multiple offers on your home is a ideal situation, right? With multiple people all trying to buy your home at the same time! There couldn't possibly be anything wrong with that!
Well there are definitely some pluses, but there are some significant risks to the prospect too.
The Pros:
You will likely get close to "market value" for your home. In some cases you might even get full asking price or more.
You will likely find an offer that matches all, or many, of your needs - possession date, inclusions/exclusions, etc.
You likely won't have long protracted negotiations. You will likely get offers with only a few conditions. Maybe you'll even get some offers without conditions.
And now some of The Cons:
Buyers are skeptical about competing offers - especially in today's buyer's market! The don't like getting dragged into a bidding war on price with the possibility that they will pay more than market value, and are more apt to just walk away. If you announce...
Source: KWRI - used under standard YouTube license terms.
About Real Estate Professional Tom Bushey:
Tom Bushey is an experienced Associate Broker and REALTOR® with Real Estate Professionals Inc. in Calgary, Alberta. He's passionate about family, friends, technology and specializes in northwest Calgary condos and prestige homes. He welcomes the opportunity to earn the business of you, your friends, neighbours and associates for buying or selling real estate in the Calgary area.
Calgary, December 1, 2011 – 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 market, a reflection of their positive long term outlook for the city,” says Sano Stante, president of CREB®. &...
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About Real Estate Professional Tom Bushey:
A return to typical sales activity in the Calgary region
The MLS® System Housing Price Index (HPI) is coming to Calgary in February, as part of a nationwide rollout involving boards in Canada’s largest cities. It’s an exciting new tool that CREB® has developed in cooperation with several other boards and the Canadian Real Estate Association (CREA®).
It had been speculated that at the end of 2011 we would see an all-time record for real estate listing expirations. I really don't know if it was a record (since I couldn't find any historical data), but there sure were an awful lot of expirations. Considering 2011 was almost as a bad a year as 2010 for real estate sales (the worst year for real estate sales the last 10 years), this would make a lot of sense.
At the end of last week, another report from one of Canada's largest banks was released in regards to the Canadian housing markets. This time it was from their research branch: TD Ecomomics (for TD Bank, TD Waterhouse, TD Canada Trust).
The prospect of having multiple offers on your home is a ideal situation, right? With multiple people all trying to buy your home at the same time! There couldn't possibly be anything wrong with that!
