This month saw a double-digit gain in sales, but last February was one of the slowest levels of activity since the late ’90s.

With the extra day this February, monthly sales totaled 1,197 units.  A combination of these two factors resulted in a 23 per cent improvement over last year, but sales remain well below longer-term trends and consistent with the lower levels reported over the past five years.

However, this should not diminish the fact that conditions are still improving.

Calgary is continuing to see slow reductions in the amount of oversupply in the market, from modest changes in demand and reductions in supply. This needs to occur before we can see more stability in prices.

The overall unadjusted benchmark price was $416,900 in February. This is similar to last month, but nearly one per cent below last year’s levels. Overall, prices remain nearly 11 per cent below the monthly high recorded in 2014.

 

HOUSING MARKET FACTS

Detached

  • After the first two months of the year, detached sales improved by nearly 12 per cent. Improvement did not occur across all districts, as sales continued to ease in the City Centre, North East and North West districts.
  • Driven by pullbacks mostly in the south and west districts, new listings declined by one per cent in the city so far this year.
  • Improving sales and easing new listings helped reduce inventory levels and reduced months of supply to just below four months in February. This is a significant improvement over the more than five months recorded last February.
  • The benchmark price continued to trend down this month for detached homes, but the pace of decline is easing. Citywide detached prices remain less than one per cent lower than last year’s levels, but price movements vary significantly by district, ranging from a three per cent decline in the City Centre to a two per cent increase in the South district.

Apartment

  • For the second month in a row, improving sales were met with gains in new listings. This is causing inventory gains.
  • Sales levels were high enough to cause the months of supply to ease, but the persistent oversupply in the market continues to weigh on prices.
  • February benchmark prices eased compared to the previous month and is over two per cent lower than last year’s levels. The overall benchmark apartment price of $244,700 in February is nearly 19 per cent lower than 2014 monthly highs.

Attached

  • After the first two months of the year, rising attached sales and easing new listings caused inventories to decline.
  • February months of supply is now below five months, an improvement compared to the past two years.
  • Conditions continue to favour the buyer, but improvements have helped reduce the downward pressure on prices. However, divergent activity continues based on location, as prices declined across most districts, but improved in the West, South East and East districts of the city.

 

REGIONAL MARKET FACTS

Airdrie

  • After the first two months of the year rising sales were met with gains in new listings.  However, the improvements in sales outpaced the new listings gain resulting in further inventory declines.  Months of supply have still eased over last year’s levels, but not enough to cause a significant change in price movements.
  • After the first two months of the year, the benchmark price has remained relatively stable compared to last year.

Cochrane

  • Trends in the town remain generally consistent with regional trends. Improving sales were met with some reductions in listings, inventory and the amount of oversupply in the market.
  • The market is showing signs of improvement, but prices continue to remain over two per cent lower than last year.

Okotoks

    • Improving sales in the town were strong enough to offset recent gains in new listings, causing further reductions in inventories and the months of supply.
    • The elevated levels of supply compared to sales continue to cause prices to trend down. However, at a benchmark price of $409,150 so far this year, prices are just above levels recorded over the first two months of 2019. 

Source: https://www.creb.com/News_Centre/Media_Releases/2020/March/Home_sales_see_a_bump/
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Housing market conditions continue to follow similar trends to last year, with gains in sales.

At the same time, there have been further reductions in new listings, inventory and more declines in prices.

January sales activity was 863 units, nearly 8% higher than last year’s levels. While sales remained well below January activity recorded before 2014, they remain consistent with activity recorded over the past 5 years.


A persistent slowdown in the energy sector has resulted in a reset in many aspects of our economy. This includes the housing market.


We continue to see the slow adjustment to more balanced conditions, but it will take time before that starts to translate into price stability.


Citywide unadjusted benchmark prices were $417,100 in January. This is slightly lower than the previous month and nearly 1% lower than last year’s levels.


Benchmark prices eased, but there were some modest improvements in both the average and median prices. This is likely a reflection of some changes in the distribution of sales. 


HOUSING MARKET FACTS


Detached

  • Detached sales in January improved by six per cent, thanks to growth in all districts except the North East.
  • New listings declined by nearly  11% due to pullbacks in all areas except the City Centre and the North districts. Combined with adjustments in sales, this caused inventories to ease by 15% citywide.
  • Reductions in supply and gains in sales supported reductions in the months of supply from nearly six months last year to just under five months this January.
  • Detached benchmark prices eased by nearly 1% compared to last year. However, the only two areas to record notable year-over-year declines were the City Centre and West, with price declines exceeding 3%.

Apartment

  • Improving sales were met with gains in new listings, causing inventories to increase by 12% compared to last year.
  • The gain in inventories prevented any significant adjustment in the months of supply, which remained elevated at nine months.
  • The persistent oversupply continued to weigh on benchmark prices, which eased compared to last month and declined by 2% compared to last year.

Attached

  • Despite slower sales in the South and South east district, city-wide attached sales improved by 4%.  At the same time new listings eased by nearly 18%, causing inventories to decline by 10%.
  • Improving sales and a drop in inventory helped the months of supply to dip below seven months, a significant improvement compared to last year’s level of nearly 8 months.
  • While this segment is trending toward more balanced conditions, persistent oversupply continues to weigh on prices, which trended down over the previous month and eased by over 1% compared to last year’s levels.

REGIONAL MARKET FACTS


Airdrie

  • Improving sales and easing inventories helped push the months of supply down to 4.7 months. This represents levels that are consistent with longer-term trends and reflects relatively balanced conditions.
  • The improvements in the supply relative to demand have started to generate much more stability in prices, which have remained comparable to last month and slightly higher than last year’s levels.

Cochrane

  • January recorded a significant gain in sales and a significant drop in new listings. This resulted in a drop in the months of supply to four months, a significant improvement from the 14 months recorded last January.
  • If the improvements continue, this should start to support price stability. However, the recent change has not yet impacted prices, which remain nearly 3% lower than last year’s levels.

Okotoks

  • Sales activity in town improved to levels consistent with longer-term trends. The improvement in sales helped offset the slight rise in new listings, helping reduce inventories and bringing the months of supply down to levels more consistent with balanced conditions.
  • The steady reduction in oversupply in this market is helping to generate more stability in prices. In January, benchmark prices remained comparable to levels recorded last year.

Source: https://www.creb.com/News_Centre/Media_Releases/2020/February/2020_opens_with_a_slight_gain_in_sales/
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RE/MAX Canada has released their 2020 forecast:

The Calgary housing market will lean toward buyers in 2020 with a zero percent adjustments on their residential sale price expectation. This is dependent on a number of different factors, including the province’s economy and the fate of the Keystone Pipeline. The city’s employment rate and overall economy will have the greatest impact on the housing market, along with strong population growth.

Calgary’s buyer’s market is due to its economy and high unemployment rate which is expected to continue into 2020 should major changes not be made. Housing affordability isn’t a concern due to low condo prices allowing buyers to easily enter the market. Despite the high unemployment rate, the city’s population is increasing due to residents from other parts of Alberta moving to the city.

Condominiums and two-story detached homes are the most popular properties in Calgary while Coventry Hills, Evergreen and Northeast Calgary are expected to be the hottest markets of next year because of their affordability. First-time and move-up buyers are expected to drive demand in 2020, with more first-timers entering into the market compared to past years, due to the city’s overall younger population compared to the rest of Canada.

From a national perspective, RE/MAX anticipates a leveling out of the highs and lows that characterized the Canadian housing market in 2019, particularly in Vancouver and Toronto, as we move into 2020. Healthy price increases are expected, with an estimated 3.7-per-cent increase in the average national residential sales price.

As more Canadians have adjusted to the mortgage stress test and older Millennials move into their peak earning years, it is anticipated that they will drive the market in 2020, particularly single Millennials and young couples. A recent Leger survey conducted by RE/MAX found that more than half (51 %) of Canadians are considering buying a property in the next five years, especially those under the age of 45.

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Year-to-date residential sales in the city remain just above last year’s levels due to improvements in the attached sector so far this year.

However, November sales activity eased over last year’s levels, mostly due to pullbacks in the apartment sector.

Meanwhile, new listings eased enough relative to sales to cause inventories to ease and the amount of oversupply to come down slightly compared to last year’s levels.

Achieving more stable conditions will take time. Sales activity has been settling in at lower levels and is likely being influenced by the economic conditions and uncertainty weighing on our market.

While the amount of supply in the market continues to ease, the persistent oversupply continues to weigh on prices.

As of November, the citywide unadjusted benchmark price was $419,100. This is just below last month’s levels and 2% lower compared to last year’s levels.

Market conditions continue to vary depending on price, location and product type. For example, prices have ranged from a year-to-date decline of nearly 8% for row product in the East district to a 2% increase for semi-detached product in the North district.

Larger price declines are often caused by high supply in the new-home and resale markets relative to demand.



HOUSING MARKET FACTS

Detached


• Detached sales improved in November over last year’s levels, mostly due to growth in the $400,000 – $500,000 range. However, sales in November and overall activity remain low by historical standards.


• Despite some recent gains in sales activity, year-to-date sales remain comparable to last year’s levels and 20%  below longer-term trends. However, detached sales have improved in both the North West and South districts this year.


 • Improving sales, combined with further declines in new listings, helped reduce inventories in this sector compared to levels recorded last year. However, supply levels remained elevated based on seasonal comparisons.


  • Like some of the other sectors, the detached market is slowly moving toward more balanced conditions. However, it is still oversupplied, and this trend continues to weigh on prices.


  • The detached unadjusted benchmark price was $481,500 in November, slightly lower than last month’s levels and 2% below last year’s prices.

Apartment

 • Apartment sales pulled back this month, causing year-to-date sales to remain comparable to last year’s levels and 21 per cent below long-term averages.


• The monthly decline in sales was mostly driven by pullbacks in the City Centre, North West and South East districts. However, on a year-to-date basis, sales activity improved in the North, West and South East districts.


 • New listings rose across most districts, causing city-wide inventory gains this month. Much of the gains were a result of a rise in new-home listings filtering into the resale market. Despite the monthly shift, year-to-date new listings and inventories remain lower than last year’s levels.


 • Weaker sales, combined with rising inventories, pushed November months of supply to over 7 months. This is higher than last year’s levels of more than 5 months.


 • Persistent oversupply in this sector caused prices to ease. The year-to-date benchmark price declined by more than 2%.

Attached

 • Year-to-date sales remain more than 6% higher than last year’s levels and just below long-term averages.


 • New listings eased this month compared to last year and sales improved.  Inventories continue to ease from the monthly highs recorded last year. While the attached market remains oversupplied, the market continues to improve over last year’s levels.


 • November semi-detached prices eased by 2% compared to last year. The largest year-over-year declines occurred in the City Centre district.


 • Row prices eased by nearly 4% compared to last year. Annual declines ranged from more than 7% in the North East district to nearly 2% in the North West and East districts.


REGIONAL MARKET FACTS

Airdrie

• Sales activity continue to improve in November compared to last year. This caused year-to-date sales to rise to 1,146 units, an increase over last year and consistent with long-term averages.


• The rise in sales continued to be met with a pullback in new listings, resulting in inventory declines. This helped reduce the months of supply and November levels are much closer to balanced conditions.


 • Easing oversupply has helped reduce the downward pressure on prices this month. However, it was not enough to offset earlier declines. The year-to-date benchmark price in Airdrie was $332,345, 3% below last year’s levels.

Cochrane

  • November sales eased compared to the previous year, but it was not enough to offset earlier gains, as year-to-date sales remained just above last year’s levels.


 • The notable adjustment this month was in new listings, which eased enough to offset any declines in sales. This caused further inventory reductions compared to last year. While the months of supply did not shift much this month, year-to-date levels have eased from the previous year and remain just above longer-term averages.


  • Despite supply reductions, the market remains oversupplied, which continues to weigh on prices. In November, prices the benchmark price was $394,200, lower than last month and more than four per cent below last year’s levels.

Okotoks

 • November sales continued to improve over the low levels of activity recorded last year. The steady gains have caused year-to-date sales to rise above last year’s levels but remain below longer-term averages.


 • Inventory levels have also been easing, thanks to a rise in sales and reduction in new listings. While the market remains oversupplied, these adjustments are supporting moves toward more balanced conditions.


  • Prices in this market have been slower to adjust. In November, the unadjusted benchmark price was $412,100, lower than last month and over 2% lower than last year.

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Sales activity in October improved by nearly 10% compared to last year, driven mostly by improvements for apartment and attached product.


New listings also eased, which helped reduce inventory levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year's levels.


Employment has shifted in the city, with job growth occurring in our non-traditional sectors and often at a different pay scale. This is consistent with the shift to more affordable housing product.


However, at the higher end of the market the amount of oversupply is rising, as supply cannot shift enough to compensate for the reductions in demand. This is likely causing divergent trends in pricing and preventing prices from stabilizing across the city.


This is a market where signs of improvement are not consistent across all product types and price ranges. Improvements in sales are occurring in the lower price ranges across all product types. This is not yet translating into price shifts, as persistently elevated supply levels continue to place downward pressure on prices.


As of October, citywide unadjusted benchmark prices were $422,900, just below last month's levels and 2% lower than last year's levels.


HOUSING MARKET FACTS


Detached

  • Sales activity this month came in just above last year's levels, thanks to growth in all districts except the North East and North. However, year-to-date citywide levels remain comparable to last year's levels and over 19% lower than longer-term trends.
  • New listings continued to ease this month, but at a slower pace than levels recorded over the past eight months.
  • Improvements in sales and easing new listings brought down inventory levels by 15 per cent. With 3,391 units in inventory, the months of supply is just under four months. This is a decline compared to last year, but it is still high based on longer-term trends. Months of supply eased across all districts except the North, likely due to the increased pressure coming from the new-home sector.
  • Unadjusted benchmark prices eased over the previous month due to declines in all districts except the South East and East. Overall, prices in October remained nearly two per cent lower than last year's levels and nearly eight per cent lower than previous highs.

Apartment

  • Apartment sales continued to improve this month and new listings eased. This helped reduce inventory levels and brought the months of supply down just under 6 months.  Despite improvements, the market remained firmly in buyers' market.
  • Year-to-date improvements in sales were driven by gains in the North, West and South East sectors.
    Inventory declines have occurred in all districts except the South East.
  • Overall, year-to-date prices remained over two per cent lower than last year's levels and nearly 17 per cent lower than peak pricing. However, there are some signs of stabilization in prices this year, with prices in the North East, South East and East remaining comparable to last year.

Attached

  • The attached market continues to show the largest increase in sales, with year-to-date growth of nearly 7%. Improvements occurred across all districts except for the North West and North East.
  • New listings have eased by 8% so far this year, causing inventory declines and reductions in the amount of oversupply.
  • Like most sectors, this segment remains oversupplied, which is causing price adjustments. As of October, semi-detached and row prices remained 2 and 4% lower than last year's levels, respectively. Prices continue to ease across nearly all districts and remain well below previous highs.

 

REGIONAL MARKET FACTS


Airdrie

  • Apartment, row and semi-detached sales activity improved compared to last year, pushing total year-to-date sales up by 3%, which is just below longer-term averages.
  • New listings have eased to the lowest levels recorded over the past five years, helping reduce inventory and the months of supply to levels lower than the previous year.
  • The improvements are helping reduce downward pressure on prices, but it is not enough to erase previous declines. Overall, year-to-date average benchmark prices remain over three per cent lower than last year's levels.

Cochrane

  • Further gains in October contributed to a 3% year-to-date increase in sales. An 11% pullback in new listings caused supply to ease and the months of supply to fall.
  • The reductions in the amount of oversupply are not influencing monthly price movements yet.  Like most other municipalities, benchmark prices remain over three per cent lower than last year's levels and well below previous highs.

Okotoks

  • Following a sharp pullback in sales activity last year, sales activity continued to recover this month. This caused year-to-date sales to improve to levels just below what was recorded post recession.
  • New listings continue to ease, helping lower the inventory in the market and bringing the months of supply to just under five months. This is an improvement of nearly six months from last year's levels.
  • With less oversupply in the market, we are starting to see some easing of the downward pressure on prices. Overall, year-to-date benchmark prices were $410,090. This is 4% lower than last year's levels.
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For the third consecutive month, sales activity improved compared to last year’s figures, and year-over-year new listings and inventories eased. This trend will help support more stability in the housing market. Price declines have likely brought some buyers back into the market. Improvements in the market continue to be driven by homes priced below $500,000.


In the condo apartment market, sales improved by 16% this month. This represents the segment’s best September since 2015.  Year-to-date growth in both the attached and apartment sector were enough to offset the modest decline in the detached sector resulting in year-to-date sales growth of nearly 1% in the city.


Despite improving sales and reductions in inventory, the overall market remains oversupplied. This continues to weigh on prices.


While housing demand is modestly improving, sales activity remains relatively weak. The market is moving into more stable conditions, but this is mostly related to supply adjustments in the city.  


September inventory levels are still elevated at 6,889 units, but this figure represents a decline of 13% compared to last year. The months of supply in the Calgary market currently sits at five months. These conditions continue to favour the buyer, but not to the same degree seen at this time last year.


September’s citywide unadjusted benchmark price of $424,900 is two percent lower than last year’s levels.


HOUSING MARKET FACTS


Detached

  • Improvements in sales over the past three months were not enough to offset pullbacks that occurred earlier in the year, as year-to-date sales remain nearly 1% lower than last year’s levels. Despite citywide declines, sales improved in both the North West and South districts, thanks to significant gains in sales of homes priced below $500,000.
  • The months of supply remains high at over four months, although this is an improvement compared to last year.
  • Benchmark prices in September ranged from a year-over-year decline of more than 4% in the South district to general stability in the North East, North and West districts.

Apartment

  • Sales improved by 16% this month, making it the best September recorded in the past 3 years. Despite recent improvements in sales, year-to-date levels remain stable compared to last year, but well below longer-term trends.
  • Condominium apartment sales were varied across the city. Significant growth was reported in the North and South East districts. Both districts have seen significant new-home development which could be influencing resale activity.
  • Oversupply continues to weigh on prices in this market, as unadjusted prices remain 17% below 2014 highs.

Attached

  • Sales increases for both semi-detached and row product have improved year-to-date attached sales by more than 5% compared to last year. It is the only product type that has recorded significant gains year-over-year.
  • New listings continue to ease, reducing inventory and the months of supply.
  • Despite some annual reductions in the months of supply, buyers’ market conditions persist and prices continue to ease. Year-to-date benchmark price declines ranged from a high of nearly 6% in the City Centre to a low of  3% in the North East.

REGIONAL MARKET FACTS


Airdrie

  • Conditions in the resale market continue to show signs of growth. Sales activity improved in September, pushing year-to-date sales up by nearly 3%. New listings eased, which helped reduce inventory in the market.
  • The market remains slightly oversupplied, but the months of supply is edging down from last year’s high levels. This is supporting more stability in monthly price movements. As of September, the unadjusted benchmark price was nearly 2% lower than last year’s levels.

Cochrane

  • Sales in the area continue to improve and year-to-date levels remain the third-highest on record. Cochrane faces fewer challenges with demand than the Calgary market, but elevated inventories continue to weigh on prices.
  • Inventories are starting to trend down. If this continues, the market should move into more balanced conditions and, eventually, support some price stability.

Okotoks

  • Sales activity continues to recover from the low levels recorded last year. Improving sales and easing new listings are causing year-over-year inventory declines and reducing oversupply in the market.
  • The market has been trending into balanced conditions, but prices have been slow to react.  Year-to-date benchmark prices remain just over 4% lower than last year’s levels.



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Increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.


Employment numbers have been improving, but mostly in industries that are traditionally lower paid. This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.


Rising sales for homes priced under $500,000 offset sales declines in the higher price ranges. This caused August sales to improve by six per cent compared to last year.


Sales activity improved for all product types. The growth was largest for apartment-style and attached properties.

Attached sales increased for the sixth consecutive month compared to the previous year. This is also the only property type with year-to-date sales higher than last year’s levels.


New listings continued to ease this month, which caused inventory to decline. This is helping the market shift toward more balanced conditions.


The amount of downward pressure on prices is also easing. At $426,000, the unadjusted citywide benchmark price this month remained comparable to last month, but 2.6 per cent lower than last year’s levels.


Despite improving sales and reductions in inventory, housing market recovery will take time. Inventory levels remain elevated and sales activity is still well below historical norms. The market continues to favour the buyer, with over four months of supply.


HOUSING MARKET FACTS

Detached

  • Year-to-date detached sales remain just below last year’s levels, but sales improved in the South and North West districts this month.
  • Citywide growth has been driven by homes priced under $500,000. Meanwhile, easing sales and elevated inventories among homes priced above $500,000 have increased the months of supply, pushing it further into buyers’ market territory.
  • Benchmark prices in August ranged from a year-over-year decline of over five per cent in the South district to a decline of nearly one per cent in the South East.

Apartment

  • For the second month in a row, sales activity improved for apartment-style homes, but these gains were met with a rise in new listings. This prevented any significant adjustments to inventory levels and kept the months of supply elevated.
  • Sales activity remains just below last year’s levels. On average, the amount of inventory in the market this year has eased compared to last year.
  • Citywide benchmark prices in August eased compared to last year, but the East, South East and North East districts recorded modest gains. Despite those gains, prices remain well below 2014 highs.

Attached

  • For the sixth consecutive month, year-over-year attached sales improved in the city. This has resulted in year-to-date sales of 2,665 units, nearly a five per cent increase compared to the previous year. At the same time, new listings continue to ease, causing further reductions in inventory.
  • The months of supply have moved from over six months at this time last year to under five months in August.
  • These improvements have supported some monthly gains in benchmark prices, but August benchmark prices remain 2.6 per cent below last year’s levels.


REGIONAL MARKET FACTS

Airdrie

  • Despite a year-over-year decline in sales activity this month, year-to-date sales sit just above last year’s levels. Unlike Calgary, most of the growth here has been driven by gains in the detached sector. Year-to-date new listings have eased by 13 per cent and inventories have edged down relative to last year.
  • A general trend toward more balanced conditions has eased downward pressure on prices. The benchmark price was $334,600 in August – 1.8 per cent below last year’s levels.

Cochrane

  • Fuelled by reductions in new listings and stable sales, inventories continue to trend down. This has supported some easing in the months of supply, which dropped from nearly eight months in August of last year to five months this year.
  • Reductions in oversupply have supported more stability in monthly prices. The benchmark price was $408,000 in August, nearly four per cent below last year’s levels.

Okotoks

  • Improving sales in August contributed to year-to date sales of 373 units, slightly higher than last year’s levels, but still below long-term averages. The number of new listings continues to ease. This is causing inventories to decline and reducing the months of supply.
  • Months of supply dropped from nearly 10 months last year to under five months this August. Despite this reduction in oversupply, benchmark prices so far this year have remained over four per cent below last year’s levels.


Source: https://www.creb.com/News_Centre/Media_Releases/2019/September/Sales_activity_increase_led_by_lower-priced_homes/

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A struggling energy sector continues to weigh on the overall economy. Unemployment levels remain elevated and income growth remains weak.

However, Calgary continues to benefit from stable population growth fuelled by international migration and natural increases.

With current economic conditions, we expect housing demand will remain similar to levels recorded last year. Supply continues to adjust in the resale market, as well as the new-home and rental markets. Reductions in housing supply are expected to move the resale market toward more balanced conditions and support price stability by the end of the year.

While supply declines are expected to support price stability by the end of the year, on an annual basis, prices are expected to remain lower than levels recorded last year across all property types.

Conditions throughout specific price ranges and product types will continue to vary. Growth in the attached and detached markets will continue to be fuelled from the lower end of the market, but apartment activity will continue to face challenges due to the competition from new product and rentals.

Nonetheless, supply declines will help to better position the broader market moving into 2020.

Three things to know about the 2019 mid-year forecast:

• Stable lending rates and the new shared-equity mortgage program may support modest improvements in housing demand in the second half of the year.

• Concerns regarding slowing global growth and impacts on commodity prices may affect consumer confidence and housing sales.

• Slowing economic activity in the province may result in weaker job growth than the current forecast suggests.



Source: https://www.creb.com/News_Centre/Media_Releases/2019/July/Mid-year_market_update/

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Things are looking good in June! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!

In CREB’s latest market report, it appears that sales activity has improved for second consecutive month.

Sales growth in May was met with a decline in new listings. This combination eased the pressure on inventory levels, which finished the month at 7,467 units, a decline of 12% compared to last year.

Improving sales relative to inventory levels caused the months of supply to ease to just under four months. While still oversupplied, this is an improvement from the five months of supply recorded last May.

While sales activity remains low based on historical activity for May, the easing prices have brought some people back to market, while also preventing some others from listing their homes. This has started to push the market towards more balanced conditions. If this trend continues, it could limit some of the downward pressure on prices.

Citywide sales in May totalled 1,921 units, 11% higher than last year’s levels. However, sales remain 10% below longer-term trends. This sales growth was primarily driven by homes priced under $500,000.


The following data is a comparison between May 2018 and May 2019 numbers, and is current as of June 2019.





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There are many different types of weeds that can spoil a lush, green lawn: dandelions, quack grass, white clover, crabgrass, wood sorrel, bindweed, broad-leaf plantain, cinquefoil and creeping charley to name a few. But regardless of which types of weeds you may encounter, getting rid of them can be challenging.

The best way to eradicate weeds is to use a two-prong approach of applying fertilizer and herbicide at different times of the year. A regular application of fertilizer produces strong, healthy grass plants that have a better chance of fighting off weeds. And herbicides have been proven to be effective at killing existing weeds and deterring the growth of new weeds.

Finally don’t discount the efficacy of getting down on your hands and knees and using weeding tool to dig up weeds, especially before they go to seed. And it’s best to hand-pull weeds when they’re still young and their roots haven’t had a chance to grow down deep into the soil. Yanking out older, more established weeds requires digging out the entire root system. Otherwise, they’ll just grow back.

Before treating or amending a lawn, it’s always best to start by testing the condition of the soil. Do-it-yourself soil test kits are sold at garden shops, home centers and hardware stores. For more comprehensive testing, contact your County Cooperative Extension office.

If the test reveals that your soil is slightly acidic, raise the pH level by adding pulverized lime. To lower the pH of moderately alkaline soils, add organic material, such as peat moss. For soil with extremely high pH, amend it with sulfur or iron sulfate.

It’s difficult to give specific lawn-care recommendations because so much depends upon the type of grass you have and in which region of the country you live. However, here’s an annual maintenance schedule that’s appropriate for most parts of the country. Follow this advice and you’ll end up with a greener lawn and many fewer weeds.

March-April

If crabgrass is present, use a walk-behind drop spreader to apply a pre-emergence crabgrass preventative agent. However, don’t apply it until the grass is green and has been mowed at least twice. This is also a good time to apply lawn fertilizer.

If you find clumps of crabgrass, that’s an indication of where the crabgrass seeds have settled. Treat these clumps with a post-emergence crab grass agent, applied two or three times over a seven-day stretch. Note that post-emergence agents are most effective in the spring, not in late-summer or fall when the seed heads have already formed.

May-June

Apply lawn fertilizer in mid-summer, if you didn’t do so in the spring. Treat dandelions and other broadleaf weeds, such as plantain and chickweed, with a dual-function “weed and feed” herbicide or broad-leaf weed killer.

You can also spot-kill individual weeds and weed clumps by using a pump-up sprayer to spray herbicide directly onto the weeds. For optimum results, apply the herbicide when the air temperature is between 65 and 85ºF, and there’s no rain in the forecast for 24 to 48 hours. And note that many broad-leaf weed killers come in concentrated formulas, which you can mix to the proper proportions; concentrates are also much less expensive than pre-mixed, ready-to-use products.

July-August

Inspect lawn for insect pests. If necessary, apply a grub-control agent.


September-October

Apply a fall fertilizer to strengthen the lawn and repair summer damage. Grass leaves grow much more slowly as the weather cools, but the grass roots and rhizomes continue to grow strong. (Rhizomes are the horizontal plant stems that lie just beneath the soil’s surface.)

Treat bare spots with an all-in-one Lawn Repair Mixture that contains grass seed, mulch, and a quick-start fertilizer.

Spread a layer of bark mulch over areas where grass doesn’t grow, but weeds do, such as around shrubs and beneath trees.

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