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About Amar – Calgary Realtor

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Courtesy Of
Jared Chamberlain Of CHAMBERLAIN REAL ESTATE GROUP

$179,900 - 605 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4261616

A terrific 1 bed/1 bath condo in Royal Oak is a must-see! Ideal for a couple, young professional or someone looking to downsize. The open plan layout of the 605 sq.ft unit feels spacious. Located in the Red Haus building, with its lush, quiet courtyard, games room, party facilities, community kitchen, and fitness center. An open concept layout with 9'…
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Courtesy Of
Justin Havre Of RE/MAX FIRST

$355,000 - 1193 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4261685

Welcome to this nearly 1200 sq ft bi-level in Edgewater. Located within walking distance to schools, this home features a double attached garage, beautiful new carpets, and a fully finished basement. The bright front living room is bathed in plenty of sunlight and has high ceilings for a spacious, open feel. The kitchen features a centre island and lots of…
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Courtesy Of
Tarryn Hamilton Of RE/MAX REALTY PROFESSIONALS

$199,000 - 876 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Detached

MLS® #C4258936

True "Handyman Special!" This little bungalow is located on a quiet street and has a large south facing backyard with double detached garage. This home is in extremely poor condition and requires extensive repairs/renovations, the kitchen renovations have been started.
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Courtesy Of
Tyler Giesbrecht Of CIR REALTY

$644,900 - 2364 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Detached

MLS® #C4261565

Absolutely Stunning Fully Finished 5 BEDROOM WALKOUT Home with an incredible location! Not only was the house and all the Landscaping built to the highest standards, these original home owners show a Pride of Ownership that is unquestionably evident as you make your way through the Home. All three levels of this home are well designed to maximize Space, Natural…
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Courtesy Of
Kevin Leung Of CIR REALTY

$389,900 - 853 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Apartment High Rise

MLS® #C4261596

Welcome to 205 RIVERFRONT. This 2 BEDROOM 2 BATHROOM unit is perfectly located with VIEWS of downtown and overlooking the PARK across the street. Featuring a modern, open plan and floor to ceiling windows on two sides, 9 ft ceilings, this home feels bright and spacious. FRESHLY PAINTED, in-suite laundry, huge balcony ideal for entertaining and includes one TITLED underground…
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Courtesy Of
Perri Scarcelli Of MAXWELL CAPITAL REALTY

$324,900 - 1112 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4261582

Welcome to 2606 41 Street SE! This bright and spacious bungalow has been meticulously maintained over the years and offers over 2,000 square feet of developed living space. The main level is made up of 3 bedrooms, a 4-piece bathroom, a massive kitchen and a family room that features floor to ceiling windows. Downstairs you will find plenty of space…
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Courtesy Of
Kirby W Cox Of ROYAL LEPAGE BENCHMARK

$999,900 - 2793 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4261581

The absolute finest in luxury living in this brand new home backing onto Beaudin Lake in exclusive Rock Lake Estates. Unbelievable value in this custom-crafted home from Lupi Luxury Homes & one of 2019's SAM Award finalists, incredible 3 bedroom+den two storey walkout with engineered hardwood floors, sought-after 3 car garage & showstopping designer kitchen. Expansive open design with great…
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Courtesy Of
Tessa Corley-Rae Of REAL ESTATE PROFESSIONALS INC.

$709,400 - 1927 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4261654

OPEN HOUSE Monday, August 5th 2-4. This home is functional, sophisticated & sheek! This beautiful modern home is absolutely the best value in the Marda Loop area! Contemporary open floor plan offers 2775 sqft of developed living space, loaded with high-quality upgrades inc 9’ ceilings, upgraded lighting & so much more! Stunning gourmet kitchen features floor to ceiling high-gloss cabinets,…
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Courtesy Of
John W W Wade Of RE/MAX IREALTY INNOVATIONS

$374,900 - 1055 Sq.Ft

Beds
5
Baths
4.00

ACTIVE

Detached

MLS® #C4261794

Are you looking for enough room for everyone??? This is the place! It is DECEPTIVELY LARGE! As you enter you will LOVE the HIGH VAULTED CEILINGS and GRAND WINDOWS that will BATHE you in LIGHT. The BRIGHT and SPACIOUS OPEN FLOOR PLAN is ideal for ENTERTAINING GUESTS and STAYING IN CONTACT WITH YOUR FAMILY. The KITCHEN has PLENTY of COUNTER…
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Courtesy Of
Jordan Roy Huntrods Of ROYAL LEPAGE SOLUTIONS

$400,000 - 1494 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4261674

This amazing family home in New Brighton Offers more than 2200 sf of developed living space. With 9ft ceilings vaulting to 14ft and a curved staircase, the main floor has a definite wow factor. The main floor is equipped with a large open concept kitchen, huge island with breakfast bar, Maple cabinets, 2-piece powder room, loads of natural light, high…
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Courtesy Of
Travis Munroe Of CENTURY 21 ELEVATE REAL ESTATE

$999,900 - 3150 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4259142

This executive estate home sits on a 3/4 acre lot and backs onto the 7th hole of the Priddis Greens Golf Club. An open concept main floor boasts gorgeous dark stained hardwood and matching granite throughout. The gourmet kitchen features stainless steel appliances including dual Jenn-Air convection ovens and a 5 burner natural gas Jenn-Air range. Upstairs you will find…
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Courtesy Of
Allain Bonneville Of RE/MAX LANDAN REAL ESTATE

$349,900 - 1316 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4261810

The Iris 2, a brand new paired home built by Cardel Homes. Rich natural surroundings and contemporary architecture make the south-east community of Walden a true hidden gem. 45 Walcrest Gate SE is located in Phase 51 of this popular urban, modern, neighbourhood and features a west facing backyard and rear paved lane. This 1427 square foot model is designed…
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Courtesy Of
Justin Havre Of RE/MAX FIRST

$259,900 - 598 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4261726

Spectacular 1 bed condo in the heart of Bridgeland. So many great amenities at your fingertips. Short walk to downtown, the zoo, Telus Spark, and the river pathways. Eateries, coffee shops, and cool boutiques oh so close. This unit is south facing and has very large deck space and is private with its own little garden as well. Downtown views.…
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Courtesy Of
PatiJoe Hui Of GRAND REALTY

$779,000 - 2504 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Detached

MLS® #C4259473

Welcome to this fabulous walkout home located on a quiet street backing onto Jafari Park with ponds and walking pathways. This 5 bedroom, 3.5 bathroom home has over 3400 sq.ft of living space to enjoy. The main floor offers 9’ ceilings, office, formal dining room with recessed ceiling, family room with a gas fireplace and built-in shelves. The kitchen features…
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Courtesy Of
Phil H Lepage Of RE/MAX REALTY PROFESSIONALS

$778,800 - 1672 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4261788

SELLER MOTIVATED WILL CONSIDER ALL OFFERS. INCREDIBLE FAMILY HOME WITH MAGNIFICENT VIEWS LOCATED ON A WALK-OUT, CORNER LOT FACING PARK, CLOSE TO MARKET-MALL, UNIVERSITY OF CALGARY, FOOTHILLS AND CHILDRENS HOSPITALS, RIVER, HIGHWAY 1 AND MUCH MORE! Over 2400sf of living space with upgrades that include Kitchen-Aid stainless steel appliances (including gas cooktop, wall oven, microwave), engineered HWD on main level,…


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Canadian home sales rise in July

Canadian home sales rise in July

Ottawa, ON, August 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up in July 2019 compared to June.

Highlights:

  • National home sales rose 3.5% month-over-month (m-o-m) in July.
  • Actual (not seasonally adjusted) activity was up 12.6% year-over-year (y-o-y).
  • The number of newly listed homes edged back 0.4% m-o-m.
  • The MLS® Home Price Index (HPI) climbed 0.6% m-o-m and 0.2% y-o-y.
  • The actual (not seasonally adjusted) national average sale price was up 3.9% y-o-y.

Home sales recorded via Canadian MLS® Systems rose for the fifth consecutive month in July, putting them about 15% above the six-year low reached in February 2019 but still more than 10% below the highs reached in 2016 and 2017. (Chart A)

Activity advanced in about 60% of all local markets. While the monthly increase was led by Greater Vancouver (GVA) and Greater Toronto (GTA), sales there remain well below levels recorded prior to the mortgage stress test that came into effect in 2018.

Actual (not seasonally adjusted) sales activity stood 12.6% above July 2018. Sales were up from year-ago levels in most of Canada’s largest markets, including the Lower Mainland of British Columbia, Calgary, Edmonton, the GTA and Hamilton-Burlington, Ottawa and Montreal.

“The extent to which recent declines in mortgage interest rates have helped lift sales activity varies by community and price segment,” said Jason Stephen, CREA’s President. “All real estate is local. Nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“Sales are starting to rebound in places where they dropped when the mortgage stress test took effect at the beginning of 2018, but activity there remains well below levels recorded prior to its introduction,” said Gregory Klump, CREA’s Chief Economist “By the same token, sales continue to rise in housing markets where the mortgage stress test had little impact due to upbeat local economic conditions and a supply of affordably priced homes. Meanwhile, the mortgage stress test is doing no favours for homebuyers and sellers alike in places facing challenging local economic prospects and subdued consumer sentiment.”

The number of newly listed homes edged back by 0.4% in July. There was an almost even split between the number of local markets where new listings rose and those where they eased. The increase in new listings in Calgary, the GTA and Edmonton offset a decline in new listings in the Lower Mainland of British Columbia and Montreal.

The monthly sales increase together with a marginal monthly decline in new listings resulted in the national sales-to-new listings ratio tightening to 59.8% in July from 57.6% recorded in June. This marks its tightest reading and the biggest deviation above its long-term average (of 53.6%) in the past year.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, about three-quarters of all local markets were in balanced market territory in July 2019. Of the remainder, all but a few Prairie markets were above the long-term average.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 4.7 months of inventory on a national basis at the end of July 2019 – the lowest level since December 2017. While remaining close to its long-term average of 5.3 months, this measure of market balance has increasingly been retreating below it.

While national measures of market balance are still generally in the ballpark of their long-term averages and indicate supply and demand are fairly well balanced, there are significant regional variations.

The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure remains well below long-term averages in Ontario and Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.6% m-o-m in July 2019, the largest increase in over 2 years.

Seasonally adjusted MLS® HPI readings in July were up from the previous month in 11 of the 18 markets tracked by the index. July’s trends were generally in line with June’s, with virtually all of the gains recorded in housing markets east of the Prairie region.

Prices were flat on a m-o-m basis across the Prairies, with the only material declines posted in the GVA (-0.6%) and Fraser Valley (-0.4%), where declines were smaller than those posted in June.

By contrast, monthly gains were posted in Barrie (+1.9%), Oakville (+1.8%), Greater Moncton (+1%), the GTA (+0.9%), Guelph (+0.8%), Ottawa (+0.8%), Greater Montreal (+0.7%), Hamilton (+0.3%) and the Niagara Region (+0.3%).

The actual (not seasonally adjusted) Aggregate Composite MLS® HPI edged up by 0.2% y-o-y in July 2019 – the first increase since January. (Chart B)

Two-storey single-family home prices edged up 0.3% y-o-y in July, while prices for one-storey single family homes and condo apartment units held steady. By contrast, townhouse/row prices retreated by 0.7% y-o-y.

A comparison of home prices to year-ago levels yields considerable variations across the country, with the main theme being declines in western Canada and price gains in central and eastern Canada.

Results remain mixed in British Columbia, with prices down on a y-o-y basis in Greater Vancouver (-9.4%), the Fraser Valley (-6.7%) and the Okanagan Valley (-0.9%). Meanwhile, prices were up 1.2% in Victoria and climbed 3.4% elsewhere on Vancouver Island.

Among Greater Golden Horseshoe housing markets tracked by the index, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+6.9%), the Niagara Region (+5.9%), Hamilton-Burlington (+5%), Oakville-Milton (+5%) and the GTA (+4.4%). By contrast, home prices in Barrie held below year-ago levels (-1.3%).

Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 3.5% in Calgary, 3.2% in Edmonton, 4.4% in Regina and 1.3% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.

Home prices rose 8.9% y-o-y in Ottawa (led by a 13.7% increase in townhouse/row unit prices), 7.3% in Greater Montreal (led by an 8.5% increase in apartment unit prices), and 2.4% in Greater Moncton (led by a 28.4% jump in apartment unit prices). (Table 1)

The MLS® HPI provides the best way to gauge price trends, because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in July 2019 was just under $499,000, up 3.9% from the same month last year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts more than $105,000 from the national average price, trimming it to less than $393,000.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca




Canadian home sales hold steady in June

Canadian home sales hold steady in June

Ottawa, ON, July 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were little changed in June 2019 from the previous month.

Highlights:

  • National home sales edged back 0.2% month-over-month (m-o-m) in June.
  • Actual (not seasonally adjusted) activity ticked up 0.3% year-over-year (y-o-y).
  • The number of newly listed homes rose 0.8% m-o-m.
  • The MLS® Home Price Index (HPI) climbed 0.3% m-o-m in June but was down 0.3% y-o-y.
  • The actual (not seasonally adjusted) national average sale price was up 1.7% y-o-y.

Home sales recorded via Canadian MLS® Systems were little changed in June 2019 following a string of monthly gains recorded in March, April and May. Although running close to its 10-year average and up nearly 10% from the six-year low reached in February 2019, activity remains well below levels recorded over much of 2015, 2016 and 2017. (Chart A)

The nearly unchanged national tally in June was the result of an even split between the number of local markets where sales were up and those where they were down. Larger monthly gains were generally focused in the province of Quebec and in Southern Ontario. Those gains were offset by declines in a diverse mix of markets across Canada, including Greater Vancouver (GVA), Calgary, Halifax-Dartmouth and the province of Newfoundland and Labrador.

Actual (not seasonally adjusted) sales activity edged up 0.3% compared to June 2018, with gains in Greater Toronto (GTA) and Montreal offsetting declines in B.C.

“Sales activity is strong in New Brunswick where I do business, but it’s a very different story in B.C., Alberta and Saskatchewan,” said Jason Stephen, CREA’s President. “All real estate is local. Nobody knows that better than a professional REALTOR®, who is your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“There’s a growing divergence in Canadian housing market trends between eastern and western Canada,” said Gregory Klump, CREA’s Chief Economist. “While sales activity in Canada’s three westernmost provinces appears to have stopped deteriorating, it will be some time before supply and demand there becomes better balanced and the outlook for home prices improves.”

The number of newly listed homes edged up 0.8% in June. Stable sales and a slight increase in new listings caused the national sales-to-new listings ratio to ease marginally to 57.1% in June from 57.7% posted in May. This measure remains within close reach of its long-term average of 53.5%.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, over 80% of all local markets were in balanced market territory in June 2019, the largest share in over three years.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 5 months of inventory on a national basis at the end of June 2019. While this is its lowest level since January 2018, this measure of market balance remains within close reach of its long-term average of 5.3 months.

While national measures of market balance are currently close to their long-term averages, which indicates a good balance between supply and demand, there are significant regional variations.

The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure remains well below long-term averages in Ontario and the Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains.

Although the seasonally adjusted Aggregate Composite MLS® HPI rose 0.3% in June 2019 from the month before, it was still running 1.1% below the peak reached in December 2018. Looking past monthly variations, the overall trend has remained stable since March amid divergent regional trends. (Chart B)

Seasonally adjusted MLS® HPI readings in June were up from the previous month in 9 of the 18 markets tracked by the index, with virtually all of the gains recorded in housing markets east of the Prairie region.

Prices were flat on a m-o-m basis on Vancouver Island and in Calgary, Edmonton, Regina, Saskatoon and Moncton. Material declines were limited to the GVA (-1.3%), the Fraser Valley ( 0.8%) and the Okanagan Valley (-0.5%).

By contrast, monthly gains were posted in Barrie (+1.4%), Hamilton (+1.3%), Niagara (+1.2%), Guelph (+1.1%), Ottawa (+0.7%), Greater Montreal (+0.7%), the GTA (+0.6%) and Oakville (0.3%).

The actual (not seasonally adjusted) Aggregate Composite MLS® Home Price Index (MLS® HPI) edged down by -0.3% y-o-y in June 2019. For the second month in a row, all benchmark property categories tracked by the index posted y-o-y declines.

Two-storey single-family home prices were little changed from last June, edging back 0.1%. By comparison, one-storey single-family home prices posted the largest y-o-y decline (-0.8%) among benchmark property categories. Meanwhile, townhouse/row prices were down by 0.7% y-o-y and apartment unit prices edged back by 0.4%.

Y-o-y trends continue to vary widely across the country, with the main theme being a growing divergence in trends between eastern and western Canada.

Results remain mixed in British Columbia, with prices down on a y-o-y basis in Greater Vancouver (-9.6%), the Fraser Valley (-6.6%) and the Okanagan Valley (-0.8%). Meanwhile, prices edged up 0.5% in Victoria and climbed 4.2% elsewhere on Vancouver Island.

Among Greater Golden Horseshoe housing markets tracked by the index, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+6.8%), the Niagara Region (+6.7%), Hamilton-Burlington (+5.4%), the GTA (+3.6%) and Oakville-Milton (+3%). By contrast, home prices in Barrie held below year-ago levels (-2.4%).

Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 3.9% in Calgary, 3.2% in Edmonton, 4% in Regina and 1.1% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.

Home prices rose 8.3% y-o-y in Ottawa (led by a 13.2% increase in townhouse/row unit prices), 6.7% in Greater Montreal (led by an 8% increase in apartment unit prices), and 1.3% in Greater Moncton (led by an 18.4% increase in apartment unit prices). (Table 1)

The MLS® HPI provides the best way to gauge price trends, as averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in June 2019 was just under $505,500, up 1.7% from the same month in 2018.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts almost $106,000 from the national average price, trimming it to less than $400,000.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca




Canadian home sales rise again in May 2019

Canadian home sales rise again in May 2019

Ottawa, ON, June 14, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed further in May 2019.

Highlights:

  • National home sales rose 1.9% month-over-month (m-o-m) in May.
  • Actual (not seasonally adjusted) activity was up 6.7% year-over-year (y-o-y).
  • The number of newly listed homes edged back by 1.2% m-o-m.
  • The MLS® Home Price Index (HPI) fell 0.2% m-o-m in May, the fifth straight decline.
  • The actual (not seasonally adjusted) MLS® HPI stood 0.6% below May 2018.
  • The actual (not seasonally adjusted) national average sale price was up 1.8% y-o-y.

Home sales recorded via Canadian MLS® Systems rose by 1.9% in May 2019. Together with monthly gains in March and April, activity in May reached the highest level since January 2018. While sales stood 8.9% above the six-year low reached in February 2019, this latest increase has only just returned levels to their historical average. (Chart A)

While May sales were only up in half of all local markets, that list included almost all large markets, led by gains in both the Greater Vancouver (GVA) and Greater Toronto (GTA) areas.

Actual (not seasonally adjusted) sales activity was up 6.7% compared to May 2018, marking the largest y-o-y gain recorded since the summer of 2016. The increase returned sales in line with the 10-year average for the month of May. While about two-thirds of local markets posted y-o-y gains for the month, the national increase was dominated by improving sales trends in the GTA, which accounted for close to half of the overall increase.

“Home price trends and market balance continues to differ significantly among Canadian housing markets,” said Jason Stephen, CREA’s President. “All real estate is local. No matter where you are, a professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Stephen.

“The mortgage stress-test continues to present challenges for home buyers in housing markets where they have plenty of homes to choose from but are forced by the test to save up a bigger down payment,” said Gregory Klump, CREA’s Chief Economist. “Hopefully the stress-test can be fine tuned to enable home buyers to qualify for mortgage financing sooner without causing prices to shoot up.”

The number of newly listed homes edged back by 1.2% in May. With sales up and new listings down, the national sales-to-new listings ratio tightened to 57.4% in May compared to 55.7% in April. That said, the measure is still within close reach of its long-term average of 53.5%.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, almost three-quarters of all local markets were in balanced market territory in May 2019.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 5.1 months of inventory on a national basis at the end of May 2019, down from 5.3 in April and 5.6 months back in February. Like the sales-to-new listings ratio, the number of months of inventory is within close reach its long-term average of 5.3 months.

Housing market balance varies significantly by region. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers in those parts of the country ample choice. By contrast, the measure remains well below long-term averages for Ontario and Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains.

MLS® HPI data are now available on a seasonally adjusted basis in addition to the actual (not seasonally adjusted) figures. On a seasonally adjusted basis, the Aggregate Composite MLS® HPI edged down 0.2% in May 2019 compared to April and stood 1.4% below the peak reached in December 2018.

Seasonally adjusted MLS® HPI readings in May were up from the previous month in 12 of the 18 markets tracked by the index; however, home price declines in the Lower Mainland of British Columbia contributed to the monthly decline in the overall index. Markets where prices rose in May from the month before include Victoria (0.5%), Edmonton (0.2%), Saskatoon (0.4%), Ottawa (0.7%), Niagara (0.2%), Oakville (0.8%), Guelph (0.5%), Barrie (3.6%), Montreal (0.5%) and Greater Moncton (0.5%), with gains of 0.1% in the GTA and Regina. By contrast, readings were down from the month before in the GVA (-1.0%), Fraser Valley (-1.1%), the Okanagan Valley (-1.3%), Calgary (-0.1%) and Hamilton (-0.7%), while holding steady on Vancouver Island outside Victoria.

The actual (not seasonally adjusted) Aggregate Composite MLS® Home Price Index (MLS® HPI) edged down by -0.6% y-o-y in May 2019. While small, it was nonetheless the largest decline in almost a decade. (Chart B)

All benchmark property categories tracked by the index posted y-o-y declines in May 2019. Townhouse/row and apartment unit prices were little changed from last May, edging back by just 0.2%. By comparison, two-storey single-family home prices were down 0.5% y-o-y and one-storey single-family home prices fell 1.7% y-o-y.

Trends continue to vary widely among the 18 housing markets tracked by the MLS® HPI. Results remain

mixed in British Columbia, with prices down on a y-o-y basis in the GVA (-8.9%), the Fraser Valley (-5.9%) and the Okanagan Valley (-0.7%). Meanwhile, prices edged up 1% in Victoria and climbed 4.7% elsewhere on Vancouver Island.

Among Greater Golden Horseshoe housing markets tracked by the index, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+5.7%), the Niagara Region (+5.4%), Hamilton-Burlington (+3.4%), Oakville-Milton (+3.4%) and the GTA (+3.1%). By contrast, home prices in Barrie and District held below year-ago levels (-6.1%).

Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 4.3% in Calgary, 3.6% in Edmonton, 3.9% in Regina and 1.3% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.

Home prices rose 8% y-o-y in Ottawa (led by a 12.2% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by a 7.6% increase in apartment unit prices), and 2% in Greater Moncton (led by a 15.9% increase in apartment unit prices). (Table 1)

The MLS® HPI provides the best way to gauge price trends, as averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in May 2019 was close to $508,000, up 1.8% from the same month in 2018.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts almost $111,000 from the national average price, trimming it to just under $397,000.

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PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca