CALGARY — After contracting this year, housing starts are forecast to bounce back in Calgary in 2012, says an Altus Group Housing Report. The report by the economic consulting firm says total starts in Calgary for 2011 are expected to be 8,200 in 2011, falling from the 9,300 experienced in 2010. The forecast for 2012 is 9,700 housing starts. A key factor is job growth. The report says job recovery bypassed Calgary last year “but so far in 2011 employment growth has shown sign of improvement” with forecast increases of 19,400 this year and … [Read more...]

CALGARY — Short-term year-over-year price growth for Calgary’s housing market is expected to be in the five to seven per cent range, says the Conference Board of Canada. The board’s Metro Resale Index indicates the average price in the city for a residential property in April was $407,900, up from $393,427 in March and from $395,468 in April 2010. The board also classified Calgary’s housing market as being in balanced conditions. The seasonally-adjusted annual rate of house sales in the city in April was 21,312, which was down … [Read more...]

There has already been "some softening" in the Canadian real-estate market so there is no need for further tightening of mortgage rules, Finance Minister Jim Flaherty said Tuesday. In his first public comments since the election, Flaherty said the country continues to weather the ongoing upheaval in the global economy. He said his first priority is to deal with the budget — which will likely be presented in June — in order to continue to implement his government's economic action plan. Unlike the United States and Europe, the Canadian housing market … [Read more...]

CALGARY — Alberta will lead the country next year in the annual percentage growth for MLS sales, according to the Canadian Real Estate Association. The association on Monday said the province will see MLS sales increase by 6.7 per cent in 2012 to 56,650 units following a 6.8 per cent gain this year to 53,100 units. At the national level, CREA is forecasting MLS sales to decline by 1.3 per cent this year to 441,100 transactions and rebound with 2.6 per cent growth in 2012 to 452,500 units. The association is predicting the average MLS sale price in … [Read more...]

There’s currently a healthy, balanced market for resale home sales in Calgary — something that’s not typical for this time of year, says the president of the Calgary Real Estate Board. Calgary Herald Archive Sano Stante, president of the Calgary real Estate Board. “We’re seeing a late spring market,” says Sano Stante, who is also a realtor with Re/Max Real Estate (Central). “The listings are at a healthy level and inventory is basically flat — when it was steadily increasing until July of last … [Read more...]

CALGARY — The average MLS sale price of a residential property in Calgary has increased slightly so far this year compared with 2010. The Canadian Real Estate Association reported Friday that year-to-date, for the first quarter of 2011, the average residential price was $398,558, up one per cent compared with the first quarter of 2010. At the national level, the average sale price for the quarter was $362,997, up 7.9 per cent from last year. In Calgary, sales during the first quarter totalled 5,492 transactions, a decrease of 4.6 per cent from last year … [Read more...]

The Bank of Canada decided to keep it's key lending rate untouched at 1.00% -  again. It is predicted that the rate will rise later this summer/fall, but at this point it is great news for those people with Variable Rate mortgages. For more on the BOC Press release read on: Bank of Canada maintains overnight rate target at 1 per cent 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 … [Read more...]

  CALGARY — Average house prices in Calgary could flirt with record levels within the next two years due to a commodity boom in the province, says a real estate industry analyst. Don Campbell, president of the Real Estate Investment Network, said house prices could increase five to seven per cent this year and another five to seven per cent in 2012. “And then after that, we’re going to be back in a bit of a frenzy,” said Campbell. “A frenzy as in a seller’s market. Now I hope it’s not as hot as it was in 2007 … [Read more...]

CALGARY — Calgary’s real estate market is in balance, with March seeing lower prices, sales and listings compared with a year ago, according to the latest report by an industry association. That’s good news for people on the prowl for a new home as the average price for a single family home fell by two per cent from a year ago, the Calgary Real Estate Board said Friday. The average price of $462,947 was virtually unchanged from February, the board said. During the first quarter, sales were up four per cent to 3,309 from a year prior, … [Read more...]

Last week, one of my colleagues was a victim of credit card fraud. The thief obtained her account number and went on a shopping spree in Paris, collecting souvenirs and finishing the day off at a karaoke bar. My colleague discovered the fraud when Toronto-Dominion Bank’s credit card department called her to ask if she truly was singing karaoke in France. My colleague is a banker. She is aware of fraud. But fraudsters are smart and fraud can happen to anyone. Although the credit card companies will reimburse their customers for any fraudulent transactions, it … [Read more...]