Calgary led the country in April with the highest year-over-year growth in MLS sales, according to the Canadian Real Estate Association. In a report released Tuesday of housing market activity in Canada’s major centres, CREA said MLS sales of 2,720 in Calgary were up 30.3 per cent from a year ago. In Canada, sales of 49,480 for the month increased by 11.5 per cent from April 2011. The average MLS sale price in Calgary rose by 0.7 per cent to $414,932 while it was up 0.9 per cent in Canada ... Full Article...

OTTAWA — The prices of new homes in Canada rose by 0.3% in March from February, the 12th consecutive monthly increase, Statistics Canada said on Thursday. The increase was slightly greater than the 0.2% advance predicted by market operators. Compared with March 2011 the index rose by 2.6%, up from the 2.3% year-on-year growth recorded in February. The metropolitan region of Toronto and Oshawa, representing 26.6% of the overall market, was the top contributor to the month-on-month advance, ... Full Article...

Calgary, May 1, 2012 – For the month of April 2012, year-overyear 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 importa ... Full Article...

CALGARY — It was a very busy April for Calgary’s housing market. According to the Calgary Real Estate Board, overall residential MLS sales in the city of 2,200 for the month were up 26.07 per cent from April 2011 and the average sale price of $429,388 increased by 1.95 per cent from last year. Carrie Pepper was one of the many caught up in the April activity as she bought a condo in the Thorncliffe-Greenview neighbourhood. “I wasn’t even planning on buying. I was looking ... Full Article...

CALGARY — It is a testament of Calgary’s booming luxury home market. Recently it took only a couple of days for a home in the upscale Britannia neighbourhood to sell for $6 million as multiple bids upped the price by $1 million from what it was originally listed, making it the third highest-ever MLS sale in the city, the Herald has learned. The custom-built home, in a private ridge setting, was listed and sold by Rooney Cronin + Valentine of RE/MAX Real Estate Central. Sue Anne Va ... Full Article...

John Shmuel  Apr 11, 2012 – 8:42 AM ET | Last Updated: Apr 13, 2012 4:45 PM ET Home construction is booming in the Prairies, and Alberta, after years of tepid housing starts, is leading the charge. The rate of residential construction, especially condominiums, has lagged the oil boom in Alberta in the past few years. But blockbuster housing starts in March — they jumped 72% year over year — hint that residential construction is getting hot again. The data were released by Ca ... Full Article...

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 ... Full Article...

CALGARY — Steady growth is forecast for Calgary’s housing market in the next two years, according to a new report released Monday by Canada Mortgage and Housing Corp. The agency said MLS sales in the Calgary census metropolitan area will grow to 23,000 transactions in 2012 and to 23,700 in 2013 from 22,466 in 2011. The CMHC said the average sale price will rise from $402,851 in 2011 to $409,000 in 2012 and $420,000 in 2013. The optimistic forecast also translates into the new housin ... Full Article...

New price tool shows year-over-year growth Calgary, February 6, 2012 – The year-over-year value of homes in Calgary increased in January 2012 by 2.7 per cent, according to a new price measurement tool vetted by academia and financial industry experts, including the Bank of Canada. The new MLS® Home Price Index (HPI) was introduced today by the Canadian Real Estate Association in partnership with Canada’s five largest real estate boards – Vancouver, Fraser Valley, Calgary, Toro ... Full Article...

Typical January for Calgary real estate 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 ho ... Full Article...

Year-end figures demonstrate stable growth 2011 a year of steady improvement for the housing market Calgary, January 3, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), 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 ... Full Article...

CMHC Releases 2011 Canadian Housing Observer a Comprehensive Report on the State of Housing in Canada OTTAWA, December 29, 2011 — Housing-related spending accounts for more than 20 per cent of Canada’s Gross Domestic Product, contributing about $330 billion to the Canadian economy in 2010 — up 7.1 per cent from $308 billion in 2009. This and other key findings are in the ninth annual Canadian Housing Observer, released today by Canada Mortgage and Housing Corporation (CMHC). & ... Full Article...

Calgary Housing Sales Trending Up Stable Pricing Providing Opportunities for Buyers 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 ho ... Full Article...

Growth of mortgage debt slows
Tara Perkins
Globe and Mail Update
Published Tuesday, Nov. 29, 2011 11:02AM EST
Last updated Tuesday, Nov. 29, 2011 12:15PM EST

The rate at which Canadians have been racking up new mortgage debt has slowed in recent months, lending credence to the theory that the country’s housing market will hold up, Canada Mortgage and Housing Corp. suggests.

The crown corporation released its third-quarter financial results Tuesday, offering a new glimpse into the country’s mortgage market.

“The level of household debt remains a concern but there are encouraging signals,” it said.

The growth of mortgage debt has significantly decelerated since March, particularly in recent months, it said.

The growth of personal loans, lines of credit and credit cards has also levelled off recently. But the largest debts that Canadians hold are their mortgages, and so the trend in that area is helping to reduce the growth rate of total household credit.

At the same time, CMHC says is analysis suggests house prices are in line with demographic changes and economic growth.
“CMHC, in consultation with the Bank of Canada and the Department of Finance, is continuing to refine models and techniques used to help identify risks of house price bubbles,” it stated. “At the moment, there is little evidence of a significant over-valuation in the Canadian housing market overall, although some centres warrant close monitoring.”
CMHC expects housing markets to stabilize next year, and house prices to grow modestly going forward.

Finance Minister Jim Flaherty took action earlier this year to reduce the growth of mortgage debt, including tightening up the rules surrounding mortgage refinancing, and decreasing the maximum length of insured mortgages from 35 years to 30. (Canadian mortgages must be insured if borrowers have a down payment of less than 20 per cent).

CMHC says that the refinance activity it’s seeing, which initially fell by nearly 40 per cent, is still down 25 per cent compared to the level it was at before the new rules came into effect. The overall level of mortgage insurance that’s being sought from the crown corporation dipped by about 10 per cent initially, but has since recovered.

 

By Mario Toneguzzi, Calgary Herald November 25, 2011 7:19 AM CALGARY — Alberta is poised to be Canada’s economic growth leader in the next two years, according to the Conference Board of Canada’s Provincial Outlook – Autumn 2011. The board forecasts Alberta to have the highest year-over-year real gross domestic product growth in the country at 3.6 per cent in 2012 and 4.5 per cent in 2013, up from 3.1 per cent this year. “Alberta is poised to enter another perio ... Full Article...

Real estate steady Canada's real estate market is expected to hold steady for the next year, kind of a Goldilocks thing in that it won't be too hot and it won't be too cold. "Canadian housing continues to look balanced, with some local markets performing better than others," Robert Kavcic of BMO Nesbitt Burns said this week after the Canadian Real Estate Association reported that prices in Canada rose 5.5 per cent in October from a year earlier, below September's 6.5 per cent and the slowe ... Full Article...

CALGARY’S HOUSING MARKET SET TO OUTPACE 2010 Several Calgary Communities Get a Boost in Sales and Price Calgary, November 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales totaled 16,184 after the first 10 months of the year, an increase of eight per cent over last year. Over 61 per cent of Calgary’s established communities saw increased sales levels compared to last year. Garrison Woods, Collingwood and Mahogany ... Full Article...

October 25, 2011 Grow ops occur all around the city, but tend to group in newer suburbs where, police speculate, connections between neighbours have yet to be established. Grow ops occur all around the city, but tend to group in newer suburbs where, police speculate, connections between neighbours have yet to be established. Photograph by: Calgary Herald Archive, . Maxine Hendricks and her husband were returning home from a shopping trip to Costco last month when they heard the most terrib ... Full Article...

CALGARY — The Conference Board of Canada says Calgary’s housing market is currently under balanced conditions. In a report released Monday, the board said the seasonally-adjusted annual rate of resales in Calgary was 22,308 units in September, up from 20,040 units in September 2010. The annualized rate for new listings during the month was 44,712, up from 44,076 a year ago. The conference board said the sales-to-new listings ratio increased to 0.464 from 0.426 last year. House price ... Full Article...

HOMEBUYERS CONFIDENCE HOLDS STEADY DESPITE GLOBAL TURMOIL Sales gain momentum in the first three quarters of 2011 Calgary, October 3, 2011 – 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 prospec ... Full Article...

Distracted Driving Law in Effect Now in Effect Highlights: Restricts drivers from: using hand-held cell phones texting or e-mailing using electronic devices like laptop computers, video games, cameras, video entertainment displays and programming portable audio players (e.g., MP3 players) entering information on GPS units reading printed materials in the vehicle writing, printing or sketching, and personal grooming Complements the current driving without due care and attention legisl ... Full Article...

OTTAWA, September 9, 2011 — The seasonally adjusted annual rate1 of housing starts was 184,700 units in August, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 204,500 units in July 2011. “Housing starts in August were in line with current demographic fundamentals and are consistent with CMHC’s recent Housing Market Outlook,” said Mathieu Laberge, Deputy Chief Economist at CMHC’s Market Analysis Centre. “Housing starts decreased ... Full Article...

The global economic turmoil that roiled stock markets around the world in August left no discernable trace on the Canadian housing market, according to figures from the body that represents the bulk of the country's real estate agents. The Canadian Real Estate Association's August resale housing report showed sales of existing homes held steady from July and posted a significant gain from year-earlier levels. Robert Kavcic, economist with BMO Capital Markets, said the stability of the real esta ... Full Article...

OTTAWA — Canada’s housing market “remains a notable out-performer” in comparison to other countries, where renewed doubts about the strength of the global economy are weakening an already fragile real-estate scene, says a report released Tuesday. The Bank of Nova Scotia said in an assessment of the global housing market that high unemployment, concerns over the financial health of some European governments, signs the global economic recovery is slowing down and recent st ... Full Article...

CALGARY HOMEBUYERS TAKE ADVANTAGE OF AFFORDABILITY AND CHOICE Upper-end home and entry-level condo sales get a boost Calgary, September 1, 2011 – 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 ... Full Article...

CALGARY — House prices in the Calgary region are expected to rise in the next two years, according to Canada Mortgage and Housing Corp. In a new forecast report released Wednesday, the CMHC said the annual growth rate for MLS average prices in the Calgary census metropolitan area will rise by 2.2 per cent in 2011 and by the same amount in 2012. The average sale price will reach $407,500 this year and $416,500 next year. The CMHC is forecasting MLS sales in the Calgary region of 22,000 thi ... Full Article...

CALGARY — MLS sales and average prices are forecast to increase in Alberta this year and next year, according to the Canadian Real Estate Association. In a new forecast released Tuesday, CREA said sales in the province will increase by 7.3 per cent this year over last year to 53,350 units and rise by another 6.8 per cent in 2012 to 57,000 sales. The year-over-year percentage hikes are the highest in Canada in each of the next two years. The association also predicts the average sale price ... Full Article...

Calgary, July 4, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), residential sales surged in the month of June 2011 to 1,979 units. While this indicates a third more sales than June 2010, the year-to-date increase proved a moderate 2 per cent. Strong monthly increases does not imply a housing boom, as it is important to put into perspective that sales activity remains below long term averages. While the single family market has shown signs of improvement t ... Full Article...

OTTAWA, June 29, 2011 — An estimated 1.9 million households, surveyed in 10 major centres, indicated they completed renovations last year, a slight decrease from the 2.1 million households that completed a renovation in 2009. This represents 42 per cent of homeowner households (down from 50 per cent in 2009), according to the Renovation and Home Purchase Survey1 released today by Canada Mortgage and Housing Corporation (CMHC). The average cost of renovations was $12,972. “Almost $23 ... Full Article...

Seasonally adjusted national home sales activityedged down by less than one per cent in May 2011 compared to the previous month. Among major markets were activity declines in Vancouver and Ottawa, offsetting gains in Edmonton and Toronto, where sales reached the second highest level on record for the month of May. Actual (not seasonally adjusted) activity came in 2.7 per cent above levels reported last May. This was the first year-over-year increase in more than a year, reflecting falling sale ... Full Article...

CALGARY — A new report released Tuesday by BMO Capital Markets says the national housing picture in Canada masks major underlying differences in valuations among three of the country’s four largest cities — Vancouver, Calgary and Toronto. The report flags the possibility of lower prices in Vancouver, steadier to softer prices in Toronto and firmer prices in Calgary in the near future. “In addition, Canada’s real estate market is vulnerable to a correction if there ... Full Article...

INNER CITY HOUSING MARKET LEADS IN SALES Buyers find value in inner city communities Calgary, June 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), year-to-date residential sales in the inner city grew nearly 4 per cent, outperforming the city wide average. City of Calgary residential sales totaled 1,816 in May 2011, a 2 per cent increase in volume over May 2010. However, slower early spring sales resulted in the overall year-to-date sales being 3 per c ... Full Article...

CALGARY — A report by Canada Mortgage and Housing Corp. forecasts MLS sales in the Calgary region to increase by nearly five per cent this year compared with a year ago while the average sale price will rise by just over one per cent. The CMHC’s Spring 2011 Calgary Housing Market Outlook, released Monday, predicted MLS sales in the Calgary census metropolitan area would hit 22,000 this year, up by 4.8 per cent, and increase a further 2.3 per cent in 2012 to 22,500 transactions. The ... Full Article...

OTTAWA –The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. As anticipated in the January Monetary Policy Report (MPR), the global economic recovery is becoming more firmly entrenched and is expected to continue at a steady pace. In the United States, growth is solidifying, although consolidation of household and ultimately government balance sheets ... Full Article...

Calgary, April 1, 2011 –According to figures released today by CREB®, Calgary Metro sales remained at levels similar to the first quarter of 2010. Improved sales in the single family market have largely been offset by declining sales in the condominium market, indicating that the gradual recovery will continue to be driven by the single family market for the better portion of the year. Single family home sales in the first quarter of 2011 were 3,309, a 4 per cent increase over the first q ... Full Article...

Unemployment rate hits national 2-year low of 5.7% BY MARIO TONEGUZZI, CALGARY HERALD MARCH 12, 2011 Alberta is back as a "job-creating machine." It was the only province to register a notable employment gain in February. Statistics Canada reported Friday that 13,700 new jobs were created in Alberta last month as the unemployment rate dropped to 5.7 per cent from 5.9 per cent in January -its lowest level since February 2009. It was the second consecutive month that employment increased in Al ... Full Article...

Calgary, March 1, 2011 –According to figures released today by CREB® (Calgary Real Estate Board), for the second month in a row, single family home sales in the city of Calgary increased over previous month figures and levels recorded in February 2010. The rise in sales continues to point to a gradual recovery in Calgary’s housing market. The number of single family home sales in the month of February 2011 were 1,169, compared with January 2011, when sales were 791 — an increa ... Full Article...

Calgary affordability best in almost six years BY MARIO TONEGUZZI, CALGARY HERALD FEBRUARY 24, 2011 RBC report says Alberta housing affordability is best in the nation. Photograph by: Dean Bicknell CALGARY - Alberta officially became the most affordable province in the country for home ownership in the fourth quarter of 2010 and affordability in Calgary is now the best it's been in almost six years, says a new report released Thursday by RBC. The Housing Trends and Affordability report said ... Full Article...

OTTAWA, February 17, 2011 — After trending lower in the second half of 2010, housing starts are forecast to stabilize at levels consistent with demographic fundamentals in 2011 and 2012, according to Canada Mortgage and Housing Corporation’s (CMHC) first quarter Housing Market Outlook, Canada Edition.1 Housing starts will be in the range of 157,300 to 192,900 units in 2011, with a point forecast of 177,600 units. In 2012, housing starts will be in the range of 154,600 to 211,200 uni ... Full Article...

Resale housing market shows further improvement in January OTTAWA – February 15th, 2011 – National resale housing activity climbed further in January 2011, according to statistics released today by The Canadian Real Estate Association (CREA). Seasonally adjusted national home sales activity rose 4.5 per cent in January 2011 compared to the previous month, reaching the highest level since April 2010. Led by Vancouver and Toronto, seasonally adjusted sales activity posted monthly ga ... Full Article...

STEVE LADURANTAYE Globe and Mail Update Published Tuesday, Feb. 08, 2011 9:53AM EST Last updated Tuesday, Feb. 08, 2011 10:23AM EST The Canadian Real Estate Association has raised its sales forecast for the rest of the year, calling for a smaller decline than it originally expected as low interest keep buyers in the market. The association now expects sales to fall by 1.6 per cent in 2011, compared to its November call for a drop of almost 9 per cent. Prices are also expected to do better th ... Full Article...

CALGARY HOME SALES RISE YEAR-OVER-YEAR Single family homes in the inner-city drive recovery Calgary, February 1, 2011 – Single family home sales in the City of Calgary edged upwards month-over-month and showed the first year-over-year increase since April 2010, according to figures released today by CREB® (Calgary Real Estate Board). The number of single family home sales in the month of January 2011 were 787, compared with December 2010, when sales were 734 — an increase of about ... Full Article...

Flaherty tightens mortgage rules Paul Vieira, Financial Post · Monday, Jan. 17, 2011 OTTAWA — Finance Minister Jim Flaherty unveiled changes Monday morning to mortgage lending rules that would see Ottawa stop backing home loans greater than 30 years and make it more difficult for households to use their property to access financing. The changes, as reported by the National Post on Sunday, emerged as worries escalate among Bay Street leaders and the Bank of Canada about the record levels o ... Full Article...