All the latest housing and real estate news that impacts Calgarians. What's happening with Canadian real estate as well as real estate markets around the world.

Calgary housing market forecast to remain strong in 2022

Calgary's housing market forecast for 2022 has been released by the Calgary Real Estate Board Media Releases (CREB).

Following a stronger housing market in 2021 than anticipated, where the residential price rose by 8.25 per cent , CREB is forecasting a 4.46 per cent increase in the residential price for 2022.

“Despite challenges with COVID-19, we are starting to see a turnaround in our job and migration numbers, and while interest rates are expected to rise, they remain relatively low. All these factors are expected to support strong housing demand into 2022,” said CREB® Chief Economist Ann-Marie Lurie.

“The biggest question will be whether supply can meet that demand. It will take time…

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In this episode I talk about the Calgary real estate market in January 2022.

When you are thinking of buying or selling your home in Calgary, it is important to understand what is happening in the housing market.

At the moment it's all about low inventory (specifically for detached homes) which has caused an increase in sales and price in Calgary.

In 2021 Calgary had 1500 detached properties on on the market. At the start of 2022 there are only 860 detached properties for sale in Calgary. That is a 46% decrease in homes for sale in. When there is less supply and high demand that's what puts prices up.

Buying or selling your home can be stressful. It can be overwhelming, and you don't know where to start. We understand how stressful it…

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Secondary suites have long been a hot button topic in the City of Calgary. Everyone from community and residential associations, to tenants, homeowners, developers and politicians all take a side on this issue. The questions is how does Calgary, the 3rd largest city in Canada, provide much needed diverse housing options, including affordable rental properties, without rezoning entire communities?  

Calgary secondary suites.

The battle has been going on at City Council for a while, but especially since Mayor Nenshi was elected in 2010. A final decision has yet to be made that will move the issue off the table.

Types of Secondary Suites

1. Legal Suites are those that adhere to current building codes and land use bylaws and obtained building permits. This is the type of…

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Canada Post New Home Mailboxes

Canada Post, come January 2013 will be charging new home developers $200 per address to install community mailboxes in new developments. This new fee will more than likely be handed down to new home owners. Community mailboxes or Superboxes were first introduced in the 1980s, and are seen everywhere in new Calgary communities like Auburn Bay, Cranston, Aspen Woods and West Springs. If you live in a condo or apartment you won’t be affected by the new fees. It only affects single family homes in new developments.

If you are a potential home owner thinking of buying a new home in Calgary you may need to add this mailbox fee to your purchase price. There can be other fees and costs associated with buying a new home. Working with a Realtor® to buy your new…

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Cochrane real estate for sale.

If you have been looking at Calgary real estate and haven’t found what you are looking for, maybe you need to look outside of Calgary in neighbouring Cochrane, Airdrie or Okotoks. A large number of home buyers have been doing just that.

According to the Calgary Real Estate Board a reduced supply in the number of single-family homes in Calgary has increased home sales in surrounding Alberta towns. Third quarter MLS home sales show Cochrane up by 20.34 per cent, Airdrie up 31.16 percent and Okotoks up 21.32 per cent all compared with a year ago.

Homebuyers like the feel of the smaller communities outside Calgary, while still having all the big city amenities close by. Home buyers in Airdrie, Cochrane and Okotoks also get a little more bang for their…

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Canada New House Price Index

If you drove around Calgary this summer you saw new home construction everywhere. Everything from gorgeous 2 storey homes on the lake in the Calgary community of Mahogany to spectacular luxury bungalows tucked away in the aspen growths in the community of Montreux.

Not surprisingly, new home prices in the metropolitan area of Calgary, according to Statistics Canada, rose 0.1 per cent in July from the previous month. The national New Housing Price Index for the month of July also increased by 0.1 per cent. The report says St. John's, NewFoundland had the highest new house price jump in July with 0.6 per cent, followed by St. Catharines–Niagara and Halifax which were both up 0.4 per cent.

Statistics Canada indicated that the metropolitan area of…

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New home sales in US and Canada.

With housing news good one day and bad the next, it’s hard for the public to know when the US housing market will really be on the road to recovery. The latest news from the US, suggests that Americans are regaining some confidence in the housing market. This is good news for Canadians even though our housing market did not suffer the same collapse as in the US.

The most recent positive housing indicator is the increase in US housing starts which rose 24 per cent in June 2012 from the same period in 2011. Canadian housing starts are showing steady positive gains as well with an increase of 9.9 per cent for the same period.

Another positive sign is the recent purchase of 2000 US foreclosed homes by American asset management and financial services…

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New Mortgage Rules

If you planning on buying a home or refinancing an existing home in Calgary, the new mortgage rules may affect you. Starting July 9, 2012 the new rules will decrease the maximum amortization for a government-insured mortgage in Canada from 30 years to 25 years. This affects home buyers who have a down payment of less than 20 per cent. The federal government is hoping that the new rules will prevent homeowners from stretching themselves too thin.

The federal government has also lowered mortgage refinancing, reducing the maximum mortgage amount to 80% of the appraised value of the home, from 85%.

One other change is that properties over 1 million dollars can no longer be mortgage insured. Mortgage insurance is required by most lenders when someone is…

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