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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Eleanor Kidder Of KIDDER & COMPANY REAL ESTATE &PROPERTY MANAGEMEN

$889,900 - 2176 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4178016

Phenomenal river, valley, and mountain VIEWS from every angle. This lot is in a PRIME LOCATION, overlooking the 16th hole of Gleneagles Golf course and all of the whole surrounding area. Bright, clean, and OPEN CONCEPT; you will look forward to coming home everyday. All your needs are centrally located as main floor includes arched entrance way with 14ft ceilings,…
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Jason D Hunter Of COLDWELL BANKER HOME SMART REAL ESTATE

$519,900 - 2350 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Detached

MLS® #C4178398

Open House Saturday April 21st 2:30-4:30pm...Size is the name of the game in this Avi built home in Lake Chaparral. You'll be hard pressed to get as much at this price point, with 2350ft2 above grade and over 3200ft2 total developed space not one room is lacking size. There are lots of features to this home including a finished basement…
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May Davidson Of RE/MAX FIRST

$1,095,000 - 2619 Sq.Ft

Beds
6
Baths
3.20

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Detached

MLS® #C4177892

Please click on link to view 3D VIRTUAL TOUR** PRESTIGIOUS BUNGALOW located on an intimate CUL-DE-SAC in the ESTEEMED community of PUMP HiILL. Very GENEROUS home offers a TOTAL LIVING SPACE of 4994sq ft ideal for a LARGE, GROWING family. This SPACIOUS home provides 3 BEDROOMS upstairs & 3 ADDITIONAL BEDROOMS downstairs. Classy tiled, hardwood bordered entrance welcomes the SWEEPING,…
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Greg McAmmond Of DCCI REAL ESTATE SERVICES

$669,900 - 1803 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Semi Detached

MLS® #C4178408

Good Investment opportunity with this side by side duplex. Rent out both sides or live in one and rent the other. Rental potential of $2400+ per month. Nice Glenbrook location on quiet street. 901 sq.ft. per side with 2 bedroom, 1 bath per side. Hardwood floors throughout. Full basements with developement potential. 2822 has new window, updated kitchen and bath.…
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Brett Murrell Of CIR REALTY

$759,999 - 1560 Sq.Ft

Beds
5
Baths
2.10

ACTIVE

Detached

MLS® #C4177959

*OPEN HOUSE - SUN 22 Apr 1-3PM* This executive 4 bedroom air conditioned bungalow is in a great community on a huge lot that has everything you will ever want along with a triple garage so look no further. This home has upgrades in every room, starting upon entering is the custom vaulted ceilings with a wall of West facing…
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Curtis M Kramer Of RE/MAX FIRST

$297,500 - 1208 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Row House

MLS® #C4177879

Beautiful, SUNDRENCHED, CORNER UNIT, move in ready home. Spacious, FULLY FINISHED, 3 bedroom, 2.5 BATH offers incredible value for a young family. This home has undergone NUMEROUS IMPROVEMENTS. BRAND NEW carpet upstairs & down; FRESHLY painted THROUGHOUT, including walls, doors & baseboards; UPDATED 2 pce bath; NEWER appliances; NEW backsplash; STONEWORK around eating bar & a stone FEATURE WALL. Main…
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Jacqueline Troughton Of RE/MAX REAL ESTATE (CENTRAL)

$499,900 - 815 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4178125

Former Stepper Show Home with over 100K in upgrades. Total of 2444 sq. ft of LUXURY living space. Open concept with 9’ ceilings, gleaming hardwood & tile floors, surround speaker system, wrought iron railings, spacious foyer plus unique Box/office/flex room. Gourmet kitchen, features quartz counter tops, maple cabinets, island breakfast bar and pantry. Plenty of room to entertain in adjoining…
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Michael Bucci Of BUSS MARKETING LTD.

$610,000 - 1029 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4178396

Own this brand new double ensuite 2-bedroom-plus-den home in the heart of the coveted Kensington neighbourhood! Kensington by Bucci is a boutique concrete building featuring a collection of 77 homes. A 5-minute walk to the Sunnyside C-TRAIN station (3-minute train ride to downtown) and Safeway with a plethora of some of the cities best restaurants and shops steps from your…
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Doreen Ng Of CENTURY 21 BRAVO REALTY

$414,800 - 1157 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4178230

Welcome to this warm and inviting home! Located on a quiet street in the desirable community of Panorama Hills! The main floor features a spacious family room, a gourmet kitchen with maple cabinets, a good sized dining room, and a 2-piece bathroom. Luxurious maple hardwood floors and ceramic tile floors throughout the main floor. The upper floor offers two bedrooms,…
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Andrew Assad Of RE/MAX FIRST

$569,900 - 1925 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4178161

Welcome to this Immaculate home with a South backyard nestled in the heart of Mountain Park in Mckenzie Lake. This home has been fully Upgraded with new additions to this home include exterior stucco painting as well as the interior in modern colours. With new hardwood (main level), a beautiful cedar deck, HWT (2015), New carpet , Re- finished kitchen…
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Richard Palibroda Of RE/MAX REAL ESTATE (CENTRAL)

$679,800 - 943 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4178109

Located in the urban forest of Rosedale. Charming character bungalow on a quiet cul-de-sac street walking distance to downtown, schools, restaurants and parks . The street is lined with mature Elm trees and wide city boulevards. 50 x 120 landscaped lot with beautiful perennial gardens and an over sized double car garage. Remodeled kitchen and bathrooms plus hardwood floors and…
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Sunny Banipal Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$723,800 - 1792 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4178392

High Quality inner city builder presents Corner Unit infill in the sought after inner city community of Montgomery. This 3+1 bedroom home welcomes you with tile Entrance leading to an office/den/Dining and transitioning to the open concept kitchen and living room with gas fireplace. All 3 levels have Triple Pane Windows. The kitchen offers custom cabinetry, a large island with…
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Linda Olsen Of REAL ESTATE PROFESSIONALS INC.

$384,900 - 1252 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4178382

Spectacular, Bright air-conditioned main floor 2-bedroom 2 full bath Condo freshly painted with gorgeous laminate flooring throughout and newer appliances. Boasting an open concept for easy entertaining a larger unit with 1250+ square feet of living space with beautiful windows that spill into the massive deck, which feels like a private oasis. The remarkable master bedroom has a massive walk-in…
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Azad P Chandler Of RE/MAX IREALTY INNOVATIONS

$579,900 - 1901 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4178176

PRIDE OF OWNERSHIP THROUGHOUT THIS 2 STOREY FAMILY HOME IN A QUIET CUL-DE-SAC WITH AN OVER SIZED, PIE LOT & BEAUTIFUL WESTERLY VIEWS. The main floor features hardwood flooring, 3 sided gas FP, large bright living rm, central dinning with access to the large deck and backyard. The spacious kitchen has black granite, stainless steel appliances and a walk through…
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Marie Hermanson Of CENTURY 21 BAMBER REALTY LTD.

$589,900 - 1032 Sq.Ft

Beds
5
Baths
2.00

ACTIVE

Detached

MLS® #C4178383

Welcome to an amazing home in a great community. Walk to Chinook Center and your pick of nearby restaurants, banks and specialty stores. This home is lovely with recent upgrades including a newer kitchen and main bathroom! A terrific functional layout flows seamlessly through the main level. Nice size master bedroom to enjoy at the end of your day. As…


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Canadian home sales improve slightly in March

Canadian home sales improve slightly in March

Ottawa, ON, April 13, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales edged higher from February to March 2018.

Highlights:

  • National home sales inched up 1.3% from February to March.
  • Actual (not seasonally adjusted) activity was down 22.7% from last year’s all-time March record.
  • The number of newly listed homes rose 3.3% from February to March.
  • The MLS® Home Price Index (HPI) in March was up 4.6% year-over-year (y-o-y).
  • The national average sale price declined by 10.4% y-o-y in March.

Home sales via Canadian MLS® Systems edged up 1.3 % from February to March 2018. Despite having improved marginally in March, national sales activity in the first quarter slid to the lowest quarterly level since the first quarter of 2014.

March sales were up from the previous month in over half of all local housing markets, led by Ottawa and Montreal. Monthly sales gains were offset by declines in B.C.’s Lower Mainland, the Okanagan Region, Chilliwack, Calgary and Edmonton.

Actual (not seasonally adjusted) activity was down 22.7% from record activity logged for March last year and marked a four-year low for the month. It also stood 7% below the 10-year average for the month. Activity came in below year-ago levels in more than 80% of all local markets, including every major urban centre except Montreal and Ottawa. The vast majority of year-over-year declines were well into double digits.

“Government policy changes have made home buyers and sellers increasingly uncertain about the outlook for home prices,” said CREA President Andrew Peck. “The extent to which these changes have impacted housing market sentiment varies by region,” he added. “A professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Peck.

“Recent changes to mortgage regulations are fueling demand for lower priced homes while shrinking the pool of qualified buyers for higher-priced homes,” said Gregory Klump, CREA’s Chief Economist. “Given their limited supply, the shift of demand into lower price segments is causing those sale prices to climb. As a result, ‘affordably priced’ homes are becoming less affordable while mortgage financing for higher priced homes remains out of reach of many aspiring move-up homebuyers.”

The number of newly listed homes rose 3.3% in March. However, new listings have still not recovered from the 21.1% plunge recorded between December 2017 and January 2018 – the largest month-over-month decline on record by a large margin. With sales up by less than new listings in March, the national sales-to-new listings ratio eased to 53% in March. The long-term average for the measure is 53.4%.

A national sales-to-new listings ratio of between 40% and 60% is generally consistent with a balanced national housing market, with readings below and above this range indicating buyers’ and sellers’ markets respectively. That said, the range consistent with balanced market conditions varies among local markets.

For that reason, considering the degree and duration that market balance readings are above or below their long-term average is a better way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of the long-term average are generally consistent with balanced market conditions.

A national sales-to-new listings ratio of between 40% and 60% is generally consistent with a balanced national housing market, with readings below and above this range indicating buyers’ and sellers’ markets respectively. That said, the balanced range can vary among local markets.

For that reason, considering the degree and duration that market balance is above or below its long-term average is a better way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of the long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with its long-term average, more than 60% of all local markets were in balanced market territory in March 2018.

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

There were 5.3 months of inventory on a national basis at the end of February 2018 – the highest level in two-and-a-half years and in line with the long-term average of 5.2 months.

The Aggregate Composite MLS® HPI rose 4.6% y-o-y in March 2018. This was the 11th consecutive deceleration in y-o-y gains, continuing a trend that began last spring. It was also the smallest y-o-y increase since December 2013.

Slowing y-o-y home price growth largely reflects trends among Greater Golden Horseshoe (GGH) housing markets tracked by the index. Although home prices in the region have stabilized or begun to show tentative signs of moving higher in recent months, y-o-y comparisons may deteriorate further due to rapid price gains one year ago.

Apartment units again posted the largest y-o-y price gains in January (+17.8%), followed by townhouse/row units (+9.4%), and one-storey single family homes (+1.3%). As expected, two-storey single family home prices were down (-2%) from a year ago. Despite having stabilized over the second half of last year, y-o-y declines for single family home prices may persist over the first half of 2018.

As of this release, housing market coverage for the MLS® HPI now includes Edmonton. Benchmark home prices in March were up from year-ago levels in 9 of the 14 markets tracked by the index.

Composite benchmark home prices in the Lower Mainland of British Columbia continue to trend upward after having dipped briefly during the second half of 2016 (Greater Vancouver (GVA): +16.1% y-o-y; Fraser Valley: +24.4% y-o-y). Apartment and townhouse/row units have been driving this regional trend in recent months while single family home prices in the GVA have held steady. In the Fraser Valley, single family home prices have also begun to rise.

Benchmark home prices continued to rise by about 15% on a y-o-y basis in Victoria and by about 20% elsewhere on Vancouver Island.

Within the GGH region, price gains have slowed considerably on a y-o-y basis but remain above year-ago levels in Guelph (+7.5%). Meanwhile home prices in the GTA and Oakville-Milton were down in March compared to one year earlier (GTA: -1.5% y-o-y; Oakville-Milton: -7.1% y-o-y). These declines largely reflect price trends one year ago and mask evidence that home prices in the region have begun trending higher.

Calgary and Edmonton benchmark home prices were little changed on a y-o-y basis (Calgary: +0.3% y-o-y; Edmonton: -0.5% y-o-y), while prices in Regina and Saskatoon remained down from year-ago levels (-4.6% y-o-y and -3.4% y-o-y, respectively).

Benchmark home prices rose by 7.7% y-o-y in Ottawa (led by an 8.6% increase in two-storey single family home prices), by 6.2% in Greater Montreal (led by a 7.4% increase in two-storey single family home prices) and by 4.9% in Greater Moncton (led by a 6.3% increase in one-storey single family home prices). (Table 1)

The MLS® Home Price Index (MLS® HPI) provides the best way of gauging price trends because average price trends 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 March 2018 was just over $491,000, down 10.4% from one year earlier.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $108,000 from the national average price, reducing it to $383,000 and trimming the y-o-y decline to just 2%.

– 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 120,000 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 fall further in February

Canadian home sales fall further in February

Ottawa, ON, March 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales declined further in February 2018.

Highlights:

  • National home sales declined by 6.5% from January to February.
  • Actual (not seasonally adjusted) activity was down 16.9% year-over-year (y-o-y) in February.
  • The number of newly listed homes recovered by 8.1% from January to February.
  • The MLS® Home Price Index (HPI) in February was up 6.9% y-o-y.
  • The national average sale price declined by 5% y-o-y in February.

Home sales via Canadian MLS® Systems were down 6.5% in February. This marks the second consecutive monthly decline following the record set in December 2017 and the lowest reading in nearly five years.

February sales were down from the previous month in almost three-quarters of all local housing markets, with large monthly declines in and around Greater Vancouver (GVA) and Greater Toronto (GTA).

Actual (not seasonally adjusted) activity was down 16.9% year-over-year (y-o-y) and hit

a five-year low for the month of February. Sales also stood 7% below the 10-year average for the month of February. Sales activity came in below year-ago levels in 80% of all local markets in February, including those nearby and within Ontario’s Greater Golden Horseshoe (GGH) region.

“Sales activity is down in many, but not all, housing markets compared to the end of last year, and varies depending on price range, location and property type,” said CREA President Andrew Peck. “All real estate is local,” he added. “A professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Peck.

“The drop off in sales activity following the record-breaking peak late last year confirms that many homebuyers moved purchase decisions forward late last year before tighter mortgage rules took effect in January,” said Gregory Klump, CREA’s Chief Economist. “Momentum for home sales activity going into the second quarter is also likely to weighed down by housing market uncertainty in British Columbia, where new housing polices were introduced toward the end of February.”

The number of newly listed homes recovered by 8.1% in February following a plunge of more than 20% in January. Despite the monthly increase in February, new listings nationally were still lower than monthly levels recorded in every month last year except January, and came in 6.4% below the 10-year monthly average and 14.6% below the peak reached in December 2017.

New supply was up in about three-quarters of local markets. The monthly increase was led by B.C.’s Lower Mainland, the GTA, Ottawa and Montreal; despite the monthly rise in new supply, these markets remain balanced or continue to favour sellers.

With sales down and new listings up in February, the national sales-to-new listings ratio eased to 55% compared to 63.7% in January. This returned the ratio close to where it was during the second half of last year.

A national sales-to-new listings ratio of between 40% and 60% is generally consistent with a balanced national housing market, with readings below and above this range indicating buyers’ and sellers’ markets respectively. That said, the balanced range can vary among local markets.

For that reason, considering the degree and duration that market balance is above or below its long-term average is a better way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of the long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with its long-term average, almost three-quarters of all local markets were in balanced market territory in February 2018.

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

There were 5.3 months of inventory on a national basis at the end of February 2018 – the highest level in two-and-a-half years and in line with the long-term average of 5.2 months.

The Aggregate Composite MLS® HPI rose by 6.9% y-o-y in February 2018. This was the 10th consecutive deceleration in y-o-y gains, continuing a trend that began last spring. It was also the smallest y-o-y increase since October 2015.

Slowing y-o-y home price growth largely reflects trends for GGH housing markets tracked by the index. Prices in the region have stabilized or begun to show tentative signs of moving higher in recent months; however, year-over-year comparisons are likely to continue to deteriorate further due to rapid price gains posted one year ago.

Apartment units again posted the largest y-o-y price gains in February (+20.1%), followed by townhouse/row units (+11.8%), one-storey single family homes (+3.5%), and two-storey single family homes (+1%).

Benchmark home prices in February were up from year-ago levels in 10 of the 13 markets tracked by the MLS® HPI.

Composite benchmark home prices in the Lower Mainland of British Columbia continue to trend higher after having dipped briefly during the second half of 2016 (GVA: +16.9% y-o-y; Fraser Valley: +24.1% y-o-y). Apartment units have been largely driving this regional trend in recent months.

Benchmark home prices continued to rise by about 14% on a y-o-y basis in Victoria and by about 20% elsewhere on Vancouver Island.

Price gains have slowed considerably on a y-o-y basis but remain above year-ago levels in the GTA (+3.2%) and Guelph (+9.3%). While home prices in Oakville-Milton are down slightly from one year ago (-1.9%), the monthly price trends in these markets have begun to show signs of stabilizing or tentative upward movement in recent months.

Calgary benchmark home prices were flat (+0.1%) on a y-o-y basis, while prices in Regina and Saskatoon were down from last February (-4.8% y-o-y and -3.8% y-o-y, respectively).

Benchmark home prices rose by 7.7% y-o-y in Ottawa (led by an 8.9% increase in two-storey single family home prices), by 6.1% in Greater Montreal (led by a 8.8% increase in townhouse/row unit prices) and by 5% in Greater Moncton (led by an 6.4% increase in one-storey single family home prices). (Table 1)

The MLS® Home Price Index (MLS® HPI) provides the best way of gauging price trends because average price trends are prone to being 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 February 2018 was just over $494,000, down 5% from one year earlier. The decline demonstrates the impact of GTA sales activity on the national average price.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations trims more than $112,000 from the national average price, reducing it to just under $382,000.

– 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 120,000 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




CREA Updates and Extends Resale Housing Market Forecast

CREA Updates and Extends Resale Housing Market Forecast

Ottawa, ON, March 15, 2018 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2018 and extended the outlook to 2019.

Housing market fundamentals remain supportive in many parts of the country. By the same token, housing markets continue to face policy-related headwinds.

New mortgage rules announced late last year had been expected to cause homebuyers to advance their purchase decision before the new rules came into effect in January, with the “pull-forward” of sales activity resulting in fewer transactions in the first half of 2018. Evidence suggests the policy response was stronger than expected, with seasonally adjusted national home sales having shattered all previous monthly records last December before dropping sharply in the first two months of 2018.

When CREA previously published its forecast in December 2017, housing markets were being affected by provincial policy measures in B.C. and Ontario, and by the stress test on mortgage applications involving less than a 20% down payment. Rising interest rates and the announcement of a stress test on mortgage applications involving more than a 20% down payment set to take effect starting in January 2018 were also factors.

Since then, more provincial housing policy measures have been announced to further cool housing markets in B.C.  Additionally, interest rates have risen further and the stress test on mortgage applications involving more than a 20% down payment has come into effect.

Interest rates are widely expected to rise further this year. Higher interest rates make mortgage stress tests a more difficult hurdle for homebuyers that need mortgage financing.

Some homebuyers will likely to stay on the sidelines amid heightened housing market uncertainty and continue saving a larger down payment before purchasing, resulting in lower sales in the first half of 2018 followed by a modest rebound in the second half of 2018 as housing market uncertainty fades.

Taking these factors into account, the national forecast for sales and average price has been lowered. National sales activity is projected to decline by 7.1% to 479,400 units in 2018. The decline reflects weaker sales in B.C. and Ontario, amid heightened housing market uncertainty caused by provincial policy measures, high home prices, ongoing supply shortages and tightening mortgage stress tests as interest rates rise.

The national average price is projected to ease to $498,100 this year, down 2.3% from 2017. Only Newfoundland and Labrador is expected to post a decline of that size, while half of all provinces see average price gains. The decline in the national average price reflects fewer transactions in B.C. and Ontario; by the same token, price declines in these provinces reflect fewer sales of higher-priced homes in Vancouver and Toronto.

Home prices in Eastern Ontario, Quebec, New Brunswick, Nova Scotia and Prince Edward Island are expected to continue to rise following years of steadily firming market conditions.

Meanwhile, for the fourth consecutive year, home prices are forecast to be little changed in Alberta and decline in Saskatchewan and Newfoundland and Labrador. In the latter two provinces, supply remains elevated in relation to demand.

In 2019, national sales are forecast to rebound modestly to 496,500 units but remain below levels recorded in 2015, 2016 and 2017. The rebound reflects an expected partial recovery of sales over the second half of 2018 in Ontario and B.C. followed by a gradual softening in activity over 2019 as previously deferred activity wanes and interest rates continue to rise. This trend is also expected in other provinces but be more pronounced in B.C. and Ontario, where transactions have fallen sharply in early 2018 despite a supportive economic and demographic backdrop for housing demand.

The national average price is also forecast to rebound by 3.1% to $513,300 in 2019, placing it roughly in line with the 2017 figure. The increase reflects expected modest price gains in a number of provinces and a partial rebound of sales activity in B.C. and Ontario.

Likewise, forecast price gains in B.C. and Ontario in 2019 reflect an expected improvement for sales activity in Vancouver and Toronto and homes remaining in short supply relative to demand in these provinces. With market conditions continuing to firm up in Quebec, New Brunswick, Nova Scotia and Prince Edward Island, these provinces are forecast to see further modest price gains in 2019. Meanwhile, prices in Alberta, Saskatchewan, Manitoba and Newfoundland and Labrador are forecast to hold mostly steady from 2018 to 2019.

– 30 –

About The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 120,000 real estate Brokers/agents and salespeople working through more than 90 real estate Boards and Associations.

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