Getting satisfaction
Mission complete yyc mobility
Survey reveals most Calgarians happy to call city home
Long awaited project reaches milestone municipal A6
commercial A15
City’s transportation gets public input
See Our Ad On Pg A3
transportation A15
Real Estate (Central)
joelsemmens.com 403-283-4700
FREE nov 9 to nov 15 2012 issue 02-44 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
exception to the rule Calgary and Alberta continue to move in opposite direction of national trends kelsey hipkin
reporter/photographer
C
algary and Alberta continue to be the exception to the rule when it comes to the Canadian housing market. “Alberta and the rest of the country are clearly on different train tracks when it comes to the housing market,” said ATB senior economist Todd Hirsch. “Back when Alberta’s home prices were booming, the explanation was pretty straightforward: very high in-migration combined with strong wage growth and the introduction of 40-year mortgages.” Calgary’s market continues to show healthy growth. Sales activity marked a 23 per cent increase over levels recorded in October 2011, a continued improvement in sales that have pushed yearto-date sales activity to nearly 16 per cent above levels recorded last year. “Relative to national trends, we continue to move in the opposite direction, recording both sales and price growth,” said CREB® President Bob Jablonski. “However, despite the higher than anticipated sales growth this year our market is not overheating, simply returning to levels consistent with long term trends and prices still have not fully recovered after the last recession.” In retrospect, Hirsch said it was “pretty hard” to see the crash of 2008 coming but the same can’t be said for today in places like
SINGLE FAMILY
$492,777 $468,360
$475,272
$478,528
$489,271
$483,519
$472,465
$438,683
$453,629
$469,726
$470,655 $455,399
$466,167 $453,969
$489,482
$479,580 $455,849
$462,947
$461,786
$441,341
$454,163
$455,460
OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11 JUN11 JUL11 AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12
$444,744
$479,575
$502,065
MLS® AVERAGE PRICE* OCT ‘10 – OCT ‘12
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Report finds baby boomers planning to sell their homes CREB® STAFF
T
he BMO Retirement Institute has released a report stating one-third of baby boomers are planning to sell their home to help fund their retirement. The report, which examines the relationship between Canadians readiness for retirement and their attitudes regarding home ownership, found 32 per cent of respondents believe living comfortably in retirement is the most financial accomplishment to achieve over a lifetime but 40 per cent are not confident they can save enough to fund their ideal retirement lifestyle.
industry A3
Toronto and Vancouver where it’s harder to see the “fundamental justifications” for the rally in home prices aside from cheap financing and rumours of offshore money. “A bad crash isn’t a certainty, and hopefully we end up with just flat home prices for awhile, but there’s a good reason people are concerned and action is being taken to keep it from truly getting out of hand,” he said. Sales in the Calgary area improved over 2011 levels across all housing types in the city. Singlefamily sales growth has been the strongest, with nearly 17 per cent more year-to-date sales this year compared to last. Meanwhile, apartment condominium sales have been rising at a slower pace, with year-to-date sales nearly 12 per cent higher than last year. New listings within city limits totaled 2,312 for October, a nine per cent decline over the same time last year. The decline in new listings relative to sales has continued to reduce total inventory levels across all sectors. However, because the fourth quarter of a year tends to be a less active period in real estate, months of supply remains within balanced levels.
statistics A3
contents news briefs
A3
event listing
A6
MLS® Statistics
A13
mortgage rates
A14
industry
A14
CMHC’s 2013 outlook
commercial
A15
map
B1
open houses
B19
Joseph Buggie 403-804-6176 www.joebuggie.com
Lake chaparraL – across from Lake Over 2,630 sq.ft. w/1,042 sq.ft. professionally developed lower level, Slate 2 storey entrance, Flex room w/french doors, Maple hardwood floors throughout main, w/open plan, Gourmet kitchen, Legacy nutmeg maple cabinets, granite counters throughout beautiful tile backsplash, stainless dishwasher, flat top stainless stove + French sxs water/ice, 2nd stainless sink in island , large eat up bar 5 persons, wine rack built in maple nutmeg, ® $719,900 mLs c3542975 6 windows in dining nook open to professionally landscaped south yard w/ stone patio + underground sprinklers, Enjoy the gas fireplace from kitchen, dining nook and great room, Laundry on main w/sink and mudroom area, Elegant spa ensuite, double walk in closets and sinks, oversized shower and soaker tub, 2nd, 3rd and 4th additional bedrooms up are very roomy. Lower level Large family rm, fireplace + granite bar, 3pc bath and 5th and 6th bedrms w/larger windows. Phantom screen, rounded corners, 9 ft ceilings, Shows fantastic and is located across from the Lake. WOW!!