Calgary is seeing increased activity and competition in its sub-$500,000 housing segment, according to latest market figures.<\/p>\n
Fresh data from the Calgary Real Estate Board indicated that this particular low-cost sector has posted gradually depleting supply along with steadily accelerating sales activity.<\/p>\n
\u201cThat under $500,000 segment, with it moving into much more balanced conditions, I would expect that you\u2019re going to start to see not just price stability, but we might move into price recovery,\u201d CREB chief economist Ann-Marie Lurie told CBC News<\/em>.<\/p>\n This will help bring increased competition, which in turn will attract even greater activity from bargain-seekers.<\/p>\n \u201cMost of what I\u2019m seeing when I do an open house or I\u2019m going out there, I\u2019m seeing a lot of renters, which is very encouraging. So it\u2019s people that are getting off the fence and are finally looking at purchasing a home,\u201d Doug Hayden of Exp Realty said.<\/p>\n Calgary\u2019s overall housing sales fell by 6% year-over-year, while the number of new listings declined by almost 19%. CREB noted that these number point to an easing in oversupply, along with a much better balance for lower-priced properties.<\/p>\n In a recent analysis, Dominion Lending Centres chief economist Sherry Cooper stated that both Calgary and Edmonton, along with Victoria in BC, are enjoying \u201cencouraging bursts of activity.\u201d<\/p>\n Resale volume grew by 6.6% month-over-month in Calgary last June.<\/p>\n \u201cThese are early signs that the cyclical bottom has been reached in that region of the country,\u201d Cooper said. \u201cMarket conditions are still soft, though. Property values remain under downward pressure for now with the MLS Home Price Index down from a year ago in May.\u201d<\/p>\n The Index fell by 4.3% in Calgary and by 3.7% in Edmonton.<\/p>\n \u201cThat said, the rate of decline moderated in Calgary and Edmonton, which is a further sign that these markets are stabilizing.\u201d<\/p>\n \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Calgary is seeing increased activity and competition in its sub-$500,000 housing segment, according to latest market figures. Fresh data from the Calgary Real Estate Board indicated that this particular low-cost sector has posted gradually depleting supply along with steadily accelerating sales activity. \u201cThat under $500,000 segment, with it moving into much more balanced conditions, I […]<\/p>\n","protected":false},"author":5,"featured_media":21999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8400"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=8400"}],"version-history":[{"count":1,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8400\/revisions"}],"predecessor-version":[{"id":21998,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8400\/revisions\/21998"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/21999"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=8400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=8400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=8400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}