FIRST-TIME HOMEBUYERS SPECIAL FEATURE See special eight-page insert inside
Kevin Clark
2006 CREB® President
A14
FREE june 24 to june 30 2016 issue 06-24 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
OVERUNDER
Housing officials cite increasing rates of overcrowding in Calgary’s housing market
RESOLVE executive director Sheryl Barlage says the economic downtown is impacting overcrowding in Calgary homes.
if more than two people must share a bedroom, with at least one individual in each of the other bedrooms, and if an individual over 18 “must share a bedroom with another member of the household,” or someone over the age of five has to share a bedroom with “an individual of the opposite sex.” (Spouses or partners sharing a bedroom don’t count.)
OVERCROWDING A3
CREA UPDATES CONTENTS RESALE HOUSING NEWS BRIEFS FIRST-TIME BUYERS FEATURE FORECAST
$439,700
$441,000
$442,800
$445,000
CREB® STAFF
$447,800
$459,300
$459,300
$459,100
$459,300
$457,800
$456,700
$458,900
$460,900
$462,400
$461,700
$462,200
$462,800
$461,900
$460,600
$459,800
$458,000
owned by the City of Calgary and which manages about 7,200 subsidized and affordable properties, has seen a slight decrease in the average monthly applications for housing, with 241 in May 2016, more than 259 in May 2015. Yet the waiting list for “social and affordable housing” in May stood at just under 4,000 applicants, about 500 more than last year, said company spokesman Darren Nimegeers, adding the waiting list is a floating number due to applicants regularly being taken off the list after a 12-month expiry. Nimegeers said there are strict provincial regulations in place to prevent “underhousing” in social housing. Under the Social Housing Accommodation Regulation, such housing is considered overcrowded
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A3
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A5
Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A5
MAY14 JUN14 JUL14 AUG14 SEP14 OCT14 NOV14 DEC14 JAN15 FEB15 MAR15 APR15 MAY15 JUN15 JUL15 AUG15 SEP15 OCT15 NOV15 DEC15 JAN16 FEB16 MAR16 APR16 MAY16
$453,200
CITY OF CALGARY
MLS® BENCHMARK PRICE* MAY ‘14 – MAY ‘16
$452,800
H
ousing experts say a soft labour pool brought upon by weak economic conditions is partly to blame for increasing rates of overcrowding, or “underhousing” in Calgary homes. RESOLVE executive director Sheryl Barlage – whose organization is made
up of nine partner agencies aimed at building affordable and supported rental homes for 3,000 homeless and vulnerable Calgarians by March 31, 2018 – says about 3,500 Calgarians were considered homeless in a recent Homeless Foundation survey, with about 14,000 at risk of homelessness – and that doesn’t include people “couch-surfing.” With the economic downturn, “we know fundamentally that number is
$454,800
for creb®now
up. It’s hard to get a handle; people are one paycheque away (from homelessness) or aren’t in appropriate housing. And the current economic climate (as well as) social issues are impacting the need. But the need has always been urgent.” The $120-million RESOLVE campaign has seen a building for the Homeless Foundation already opened and others in the position of seeing shovels going into the ground. “We had support from an anonymous donor through the Calgary Foundation to pay down the debt on two buildings,” said Barlage. “We’ve (also) been able to pay off the debt for a family-focused building with the Calgary Homeless Foundation.” The Calgary Housing Company,
$457,400
ALEX FRAZER-HARRISON
PHOTO BY WIL ANDRUSCHAK/FOR CREB®NOW
A
ctivity within Alberta’s resale residential housing market is expected to post the largest annual decline among all provinces in 2016, according to a revised forecast recently released by the Canadian Real Estate Association (CREA) According to the national real estate association, sales in Alberta, Saskatchewan and Newfoundland and Labrador are expected to struggle to regain traction this year, resulting in continuing softness for home prices.
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
MARKET A3
Mortgages. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 Communities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A8 Condos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A10 REALTORS®. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A11 Financials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A12
MAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 OPEN HOUSES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B19 MORTGAGE RATES. . . . . . . . . . . . . . . . . . . . . . . . . B19 @crebnow
CREBNow
@crebnow
www.crebnow.com
195 MOUNTAIN LION DR - WEST BRAGG CREEK CANYON CREEK BRAND NEW PRICE
$939,000
Lee Edwards 403.540.0540
• 2666 sq. ft. on 2 acres • Understated luxury • Private setting • Adjacent to golf course • MLS®C4059088
braggcreekrealestate.com
lee@braggcreekrealestate.com