Bank of Canada increases overnight target rate to 1

Sep 8, 2010, Bank of Canada increases overnight target rate to 1 OTTAWA –The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economic recovery … Read More

Calgary’s housing market continues to cool

Aug 3, 2010, Calgary’s housing market continues to cool Calgary’s housing market continued its summer slowdown in July, although prices appear stable, new figures show. The Calgary Real Estate Board said Tuesday single family home sales were down 42 per cent from the same period a year ago. Condominium sales were down 44 per cent in the same period. In … Read More

Calgary MLS sales plunge in August

Sep 1, 2010, Calgary MLS sales plunge in August Calgary’s slumping residential real estate market took another hit in August with sales plunging compared with a year ago and prices dropping on a monthly basis. According to the Calgary Real Estate Board, there were only 867 single-family home sales in the city in August, down about 32 per cent from … Read More

High inventory, cooling sales put pressure on house prices

Aug 25, 2010, High inventory, cooling sales put pressure on house prices A high inventory of homes for sale combined with a softening demand from potential homebuyers is starting to put downward pressure on Calgary MLS prices. Preliminary and unofficial data for August month-to-date indicates prices are dropping from levels of the past few months in both the single-family and … Read More

Average home in Calgary sells for 451,807 on MLS

Aug 19, 2010, Average home in Calgary sells for 451,807 on MLS The average MLS sale price for single-family homes in the city for the past 30 days is $451,807, according to the Calgary Real Estate Board. The board says there have been 908 properties sold during that period with a median price of $395,000. As of today, there are … Read More

Conference Board gives Calgary housing market long-term thumbs up

Aug 16, 2010, Conference Board gives Calgary housing market long-term thumbs up Short-term and long-term expectations for housing starts in the Calgary census metropolitan region are positive, according to a report released today by the Conference Board of Canada. In its monthly report, the conference board said most CMA’s across the country have positive expectations for housing starts in the … Read More

Economist predicts steadily rising home prices for Alberta

Aug 13, 2010, Economist predicts steadily rising home prices for Alberta Alberta home prices are expected to rise by 2.6 per cent this year and another 0.9 per cent in 2011, according to an analysis of the Canadian housing market by a senior economist. Robert Hogue, with RBC Economics, said in his report that the province’s average value of a … Read More

Town and country home sales in Calgary region more resilient

Aug 12, 2010, Town and country home sales in Calgary region more resilient MLS sales in areas outside the city have surpassed year-to-date levels compared with 2009 in contrast to what has been happening in Calgary. Recent MLS stats by the Calgary Real Estate Board indicate sales in the towns outside Calgary market are up by 2.99 per cent to … Read More

Calgary No. 1 for real estate investment

Aug 10, 2010, Calgary No. 1 for real estate investment When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network, a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest, with Calgary leading the way. But only a handful are major … Read More

Charges laid in 12M Calgary mortgage fraud scheme

Aug 5, 2010, Charges laid in 12M Calgary mortgage fraud scheme Alberta Law Enforcement Response Teams (ALERT) have laid charges in a $12-million mortgage fraud scheme. During a two-year investigation, authorities determined there were 22 properties involved in the scheme. The police probe also uncovered 12 witnesses, people who were recruited to obtain a mortgage. “The nominees, known as straw … Read More