INFOGRAPHICS: June 2018 CREB City And Region Market Reports
The Calgary Real Estate Board (CREB) has recently released its market reports for the period of June 2018.
According to CREB’s latest media release, weak sales continue to persist within the Calgary region. Also, “Canadian energy-related municipalities within Alberta and Saskatchewan have seen housing markets struggle over the past few years, resulting in price declines,” and that “the recent mortgage rule changes and higher lending rates are factors weighing on demand and prices across some of those areas.”
According to CREB® chief economist Ann-Marie Lurie,
“While our economy is no longer in a recession, persistently high unemployment rates, concerns over long-term growth, rising lending costs and stricter qualifications are all weighing on the housing demand,”
She also adds that “Growth in new listings is starting to ease for some property types, but it is not enough to prevent continued supply growth and, ultimately, an oversupplied housing market.”
Meanwhile, according to CREB® president Tom Westcott,
“In any market it’s extremely important to be well-informed, whether it’s about the process to get pre-approved for a mortgage or having the most up-to-date information about the prices in the community you are buying or selling in,”
On a more positive note, however, this month’s report also points out that “While most areas of the city are struggling with oversupply, there does appear to be some improvements. While remaining far from long-term averages, In the second quarter the months of supply edged down over first quarter levels in the city Centre, North, North West, West, South and East districts.”
The following data is a comparison between June 2017 and June 2018 numbers, and is current as of July 1, 2018. For last month’s numbers, check out our previous infographic. Or follow this link for all our CREB Infographics!
Click on the images for a larger view!
(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )