gateways to
kananaskis
Sherry JenkinS
403-804-3694
sherry@wemortgage.ca 133 First Street NW, Airdrie, Alberta T4B 0R3
Bragg creek/Redwood meadows feature A10 – A12
WeMortgage.ca See MOney on page A10
FREE may 4 to may 10 2012 issue 02-17 www.creb.com
cody stuart, Managing Editor
Calgary residential transactions increase by 26 per cent in April cody stuart
managing editor
W
ith the welcome arrival of spring in our city, it appears the grass wasn’t the only thing growing in April. According to CREB®, year-over-year sales activity improved across all sec-
tors in the city last month, increasing by 26 per cent over levels recorded during the same month in 2011. In April, overall residential sales in the city numbered 2,200. However, the increase, while great news, is just bringing Calgary back to levels more consistent with long-term averages, said CREB®’s economist, AnnMarie Lurie.
SINGLE FAMILY
“The growth in full-time employment combined with improving migration levels is translating into improved demand for housing,” she said. “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. In April, single-family home sales in the city rose by more than 30 per cent compared to 2011. Sales growth continues to outpace new-listings activity, placing down-
1582
1284 962
988
1036
1106
1153
1313
1398
I 722
773
791 734
APR10 MAY10 JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11 JUN11 JUL11 AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12
t appears the federal government is once again set to make changes to the way the Canada Mortgage and Housing Corporation (CMHC) does business. Having already shortened the maximum amortization and raised the minimum down payment in an attempt to slow what Ottawa believes is an overheated housing market, Finance Minister Jim Flaherty recently outlined possible changes to Canada’s national housing agency.
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Year-over-year sales activity improved across all sectors in April, with sales in the city increasing by 26 per cent, while the MLS® Home Price Index rose by 5.5 per cent for a total benchmark price of $449,500. ers in surrounding towns and the condominium market in the city, and the new-home builders do have the ability to absorb some of the excess demand.”
statistics A3
CMHC to come contents under tighter news briefs A3 municipal A6 scrutiny St. Patrick’s Island revitalization CREB® STAFF
891
888
958 867
915
1061
1169
1217
1262
1352
1355
1576
MLS® NUMBER OF UNITS SOLD* APR ‘10 – APR ‘12
ward pressure on inventories. As the market tightens, single-family homes are selling quicker, and there has been some upward pressure on pricing. The MLS® Home Price Index for the month of April recorded a year-over-year price increase of 5.5 per cent for a total benchmark price of $449,500. “While the balance between demand and supply in the single-family market has shifted towards sellers’ territory, there are several components that make today’s market different from five years ago,” said Bob Jablonski, president of CREB®. “The main difference is there is still significant supply for consum-
industry A3
$674,500
mortgage rates business directory commercial CREB Statistics ®
A10 A10 A14 A15
April 2012
map open houses commercial
B1 B23 b23
U.S. retailers coming to Canada PRICED TO SELL
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403.519.8303