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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Courtesy Of
Bill MacDougall Of OPTIMUM REALTY GROUP

$495,000 - 1652 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4175911

Looking for a “pristine BC lake” 1.5 hrs from Calgary? Little Bow Resort has it all – private beach, great boating/private launch, water sports, all season fishing & more. The minute you arrive at your custom designed/built cabin, City cares fade away! Stunning home with soaring vaulted ceilings & wall of windows with balcony doors to 400+ sq ft deck.…
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John Bitonti Of RE/MAX REAL ESTATE (CENTRAL)

$825,000 - 2919 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4175906

Looking for a big pie lot for the whole family to play in? Look no further, this spectacular executive family home on a sprawling 9500 sq ft. premium cul de sac lot is the one. Enjoy entertaining family & friends on the stamped concrete patio and play a game of football, volleyball or soccer you can do it all on…
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Courtesy Of
Joshua Riley Sevrens Of RE/MAX IREALTY INNOVATIONS

$215,000 - 736 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4175886

This is the condo that you have been waiting for! Welcome to the sought after Stonehaven building in Calgary’s beautiful beltline district. This concrete building has been very well maintained and the interior was recently renovated! This awesome 2 bedroom condo has a full-width private balcony and has been updated with newer kitchen, bathroom, flooring, paint and custom closets! This…
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Courtesy Of
Kevin Seitz Of REDLINE REAL ESTATE GROUP INC.

$572,500 - 2287 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4175878

NEW PRICE! Absolutely stunning MORRISON built home across from the ridge in Drake Landing. As you enter this home, your jaw will drop with the openness of the main level! The Preston Model is UNIQUE to Drake Landing as it wasn't presented as an available model in the community!! The main floor is OPEN CONCEPT and incredible for entertaining. FEATURES:…
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Courtesy Of
Michael Orechow Of GRAHAM REALTY INC.

$119,900 - 1912 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Detached

MLS® #C4175877

***COURT ORDERED SALE*** PURCHASE PRICE IS FOR A REGISTERED HALF INTEREST ON TITLE (FRACTIONAL OWNERSHIP). ***EQUITY POSITION ONLY!*** (FINANCIAL INVESTMENT)ANY POTENTIAL PURCHASER MAY NOT HAVE POSSESSION OF THIS PROPERTY. Sorry no showings on this property. Please note that all offers must be written on bailiffs offer to purchase. All information as to the room sizes and interior finishing has been…
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Courtesy Of
David P Brown Of THE REAL ESTATE COMPANY

$229,900 - 845 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4175874

Rare Find! A two-bedroom top floor condo in the NW community of Citadel with two titled underground parking stalls. This unit boasts an open floor plan with a living room, dining area, a sit up breakfast bar in the kitchen, new laminate flooring throughout, bedrooms on opposite sides of the condo, two full bathrooms, a west facing balcony and in-suite…
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Courtesy Of
Simone Rousseau Of REAL ESTATE PROFESSIONALS INC.

$889,900 - 1777 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4175869

Maintenance-free living at it’s finest - this stunning 2-bedroom brick townhome faces directly on to the Bow River pathway and Prince’s Island! Just the right amount of living space - both indoor and outdoors - with 2 generous bedrooms plus a loft/den, ample storage and TWO indoor titled parking stalls. A modern, open concept home with beautiful hardwood flooring, renovated…
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Bryon R Howard Of RE/MAX HOUSE OF REAL ESTATE

$399,900 - 784 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Detached

MLS® #C4175873

June 7 - HUGE Price Reduction. Sweet, two-bedroom heritage home on an east-front/west-back lot in Killarney. This home has original wood floors, craftsman trim, doors & framing throughout. There is a huge kitchen with plenty of counter work space & storage in the abundant cabinets. Step out from the west-facing living room onto the sunny front deck and into the…
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Courtesy Of
Michael R Laprairie Of JAYMAN REALTY INC.

$801,919 - 1043 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4175865

WESTMAN VILLAGE - The Resort on Lake Mahogany.On the surface,CALLIGRAPHY might look like other condos but it's not.From Lakeside living,hand selected shops & services,24/7 on-site security & concierge service-get a lifestyle like no other & 197 more things.Plus with the all inclusive 35,000sqft amenity centre at WESTMAN VILLAGE,there are endless reasons to consider CALLIGRAPHY your new home & no reason…
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Courtesy Of
Big John Peterson Of RE/MAX REALTY PROFESSIONALS

$1,124,900 - 2601 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4175864

The peace and quiet of acreage living combined with easy access to all the amenities of Norris Coulee, Okotoks, and Calgary just minutes away. This family designed, fully finished 2 storey home offers 4 bedrooms, 3.5 bathrooms, some recent updating, and a heated 3 car attached garage. There are 3 bedrooms up with a renovated master ensuite featuring heated tile…
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Courtesy Of
Debbie Mitzner Of RE/MAX LANDAN REAL ESTATE

$390,000 - 1830 Sq.Ft

Beds
5
Baths
3.00

ACTIVE

Detached

MLS® #C4175862

3.8 Treed Acres just minutes 2 miles East from the #1 highway. This home is expansive not expensive. Total of 4 bedrooms.3 Bathrooms. Country Kitchen. Entertain Family and Friends.Master bedroom (with ensuite and walk-in closet) is massive it has a sitting area as well as patio doors opening onto green space.Drive a Little Save A Lot.45 minutes to Calgary City…
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Courtesy Of
Michael R Laprairie Of JAYMAN REALTY INC.

$506,703 - 866 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4175858

WESTMAN VILLAGE - The Resort on Lake Mahogany.On the surface,CALLIGRAPHY might look like other condos but it's not.From Lakeside living,hand selected shops & services,24/7 on-site security & concierge service-get a lifestyle like no other & 197 more things.Plus with the all inclusive 35,000sqft amenity centre at WESTMAN VILLAGE,there are endless reasons to consider CALLIGRAPHY your new home & no reason…
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Courtesy Of
Shirley I Mikolajow Of RE/MAX FIRST

$715,000 - 1730 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4175860

AMAZING PROPERTY! LOCATION IS GOOD! VERY LITTLE ACTIVITY ON THE EAST SIDE OF THIS PROPERTY! RELATIVELY QUIET! Quick and easy access to major transportation routes, downtown, amenities! Main floor has large Living room, Dining, Kitchen with breakfast bar, lovely appliances (brand new Whirlpool dishwasher), Family Room with Pella sliding door to concrete patio and private yard, Office/Bedroom, Laundry and 2-piece…
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Courtesy Of
Jovette Morin-Ferguson Of CENTURY 21 FOOTHILLS REAL ESTATE

$179,900 - 1072 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4175854

Located in the inside court of the complex this FABULOUS TOWNHOUSE CONDO has a WRAP AROUND VERANDA with opportunity to enjoy the EAST AND SOUTH SUN. Open concept layout,LIGHT AND BRIGHT with large windows in living room and dining area which has SIDE ACCESS TO VERANDA. Very FUNCTIONAL u-shape kitchen. Conveniently located UPPER LEVEL LAUNDRY. FULL PRIVATE ENSUITE to each…
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Courtesy Of
Ellen Lapierre Of REALTY 2000 INC.

$656,250

Beds
0
Baths
0.00

ACTIVE

Not specified

MLS® #C4175856

Discover Hamilton Heights, a master planned, gated community located in DeWinton, Alberta, 10 minutes south of Calgary and a 10 minute drive to Okotoks, in the Municipal District of Foothills No. 31. Hamilton Heights is situated on an 80 acre parcel of land, consisting of eighteen exclusive 2.5+ acre lots, each with a view and a private, gated entrance. As…


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Canadian home sales activity improves in June

Canadian home sales activity improves in June

Ottawa, ON, July 16, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were up from May to June 2018.

Highlights:

  • National home sales rose 4.1% from May to June.
  • Actual (not seasonally adjusted) activity was down 10.7% from June 2017.
  • The number of newly listed homes eased 1.8% from May to June.
  • The MLS® Home Price Index (HPI) in June was up 0.9% year-over-year (y-o-y).
  • The national average sale price edged down 1.3% y-o-y in June.

National home sales via Canadian MLS® Systems rose 4.1% in June 2018 compared to May. While this marks the first substantive month-over-month increase this year, sales remain well down from monthly levels recorded over the past five years. (Chart A)

More than 60% of all local housing markets reported increased sales activity in June compared to May, led by the Greater Toronto Area (GTA). By contrast, sales in British Columbia continue to moderate.

Actual (not seasonally adjusted) activity was down almost 11% compared to June 2017. Sales marked a five-year low and stood almost 7% below the 10-year average for the month of June. Activity came in below year-ago levels in about two-thirds of all local markets, led overwhelmingly by those in the Lower Mainland of British Columbia.

“This year’s new stress-test on mortgage applicants has been weighing on homes sales activity; however, the increase in June suggests its impact may be starting to lift,” said CREA President Barb Sukkau. “The extent to which the stress-test continues to sideline home buyers varies by housing market and price range. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future,” said Sukkau.

“The national increase in June home sales suggests activity may indeed be starting to turn the corner,” said, Gregory Klump, CREA’s Chief Economist. “Even so, the number of homes trading hands has a long way to go before it returns to levels posted in recent years. Looking ahead, home sales activity and price gains will likely be held in check by higher interest rates.”

The number of newly listed homes retreated 1.8% in June, and also stood below levels for the month in recent years. New listings declined in a number of large urban markets, including those in British Columbia’s Lower Mainland, Calgary, Edmonton, Ottawa and Montreal.

With sales up and new listings down, the national sales-to-new listings ratio tightened to 54.3% in June compared to 51.2% in May. The June reading was within short reach of the long-term average of 53.4%.

Consideration of the degree and duration to which market balance readings are above or below their long-term average is a useful way to gauge 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 its long-term average, about two-thirds of all local markets were in balanced market territory in June 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 5.4 months of inventory on a national basis at the end of June 2018, down from the three-year high of 5.6 months in May. The long-term average for the measure is 5.2 months.

The Aggregate Composite MLS® HPI was up 0.9% y-o-y in June 2018, marking the 14th consecutive month of decelerating gains. It was also the smallest increase since September 2009. (Chart B)

Decelerating y-o-y home price gains have largely reflected trends at play in Greater Golden Horseshoe (GGH) housing markets tracked by the index. Home prices in the region has begun to stabilize and trend higher on a month-over-month basis in recent months.

Apartment units again posted the largest y-o-y price gains in June (+11.3%), followed by townhouse/row units (+4.9%); however, price gains for these homes have decelerated this year. By contrast, one-storey and two-storey single family home prices were again down from year-ago levels in June (-1.8% and -4.1% respectively).

With home prices having climbed above year-ago levels in 8 of the 15 markets tracked by the index, price trends continue to vary among housing markets.

Home price growth is moderating in the Lower Mainland of British Columbia (Greater Vancouver Area: +9.5% y-o-y; Fraser Valley: +18.4%), Victoria (+10.6%) and elsewhere on Vancouver Island (+16.5%).

Within the GGH region, price gains have slowed considerably on a y-o-y basis but remain above year-ago levels in Guelph (+3.5%). By contrast, home prices in the GTA, Oakville-Milton and Barrie were down from where they stood one year earlier (GTA: -4.8%; Oakville-Milton: -2.9%; Barrie and District: -6.5%). The declines reflect rapid price growth recorded one year ago and masks recent month-over-month price gains in these markets.

Calgary and Edmonton benchmark home prices were down slightly on a y-o-y basis (Calgary: -1%; Edmonton: -1.5%), while prices declines in Regina and Saskatoon were comparatively larger (-6.1% and -2.9%, respectively).

Benchmark home prices rose by 7.9% y-o-y in Ottawa (led by a 9.1% increase in two-storey single family home prices), by 6.4% in Greater Montreal (led by a 7.4% increase in townhouse/row unit prices) and by 6% in Greater Moncton (led by a 6.5% 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 June 2018 was just under $496,000, down 1.3% from one year earlier. While this marked the fifth month in a row in which the national average price was down on a y-o-y basis, it was the smallest decline among them.

The national average price is heavily skewed by sales in the Greater Vancouver and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $107,000 from the national average price, trimming it to just over $389,000.

– 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. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

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 at five-year low in May

Canadian home sales at five-year low in May

Ottawa, ON, June 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were little changed from April to May 2018.

Highlights:

  • National home sales edged down 0.1% from April to May.
  • Actual (not seasonally adjusted) activity was down 16.2% from May 2017.
  • The number of newly listed homes rose 5.1% from April to May.
  • The MLS® Home Price Index (HPI) in May was up 1% year-over-year (y-o-y).
  • The national average sale price declined by 6.4% y-o-y in May.

National home sales via Canadian MLS® Systems remained little changed in May 2018. Having edged 0.1% lower, it marked the lowest level for national sales activity in more than five years. (Chart A)

Slightly more than half of all local housing markets reported fewer sales in May compared to April, led by the Okanagan region, Chilliwack and the Fraser Valley, together with the Durham region of the Greater Toronto Area (GTA) and Quebec City. Declines in activity were offset by gains in Calgary, Thunder Bay, Brantford, London and St. Thomas, Oakville-Milton and the Quinte Region west of Kingston. A small increase in GTA sales also supported the national tally.

Actual (not seasonally adjusted) activity was down 16.2% compared to May 2017 and reached a seven-year low for the month. It also stood 5.5% below the 10-year average for the month of May. Activity came in below year-ago levels in about 80% of all local markets, led overwhelmingly by those in and around the Lower Mainland of British Columbia and the Greater Golden Horseshoe (GGH) region in Ontario.

“The stress-test that came into effect this year for homebuyers with more than a twenty percent down payment is continuing to suppress sales activity,” said CREA President Barb Sukkau. “The extent to which it is sidelining home buyers varies among housing markets and price ranges. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future,” said Sukkau.

“This year’s new stress-test became even more restrictive in May, since the interest rate used to qualify mortgage applications rose early in the month,” said, Gregory Klump, CREA’s Chief Economist. “Movements in the stresstest interest rate are beyond the control of policy makers. Further increases in the rate could weigh on home sales activity at a time when Canadian economic growth is facing headwinds from U.S. trade policy frictions.”

The number of newly listed homes rose 5.1% in May but remained below year-ago levels. New listings rose in about three-quarters of all local markets, led by Edmonton, Calgary, Montreal, Quebec City, Ottawa and the GTA.

With new listings up and sales virtually unchanged, the national sales-to-new listings ratio eased to 50.6% in May compared to 53.2% in April and stayed within short reach of the long-term average of 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; however, 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 their 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, about two-thirds of all local markets were in balanced market territory in May 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 5.7 months of inventory on a national basis at the end of May 2018. While this marks a three-year high for the measure, it remains near the long-term average of 5.2 months.

The Aggregate Composite MLS® HPI was up 1% y-o-y in May 2018, marking the 13th consecutive month of decelerating y-o-y gains. It was also the smallest y-o-y increase since September 2009. (Chart B)

Decelerating y-o-y home price gains largely reflect trends among Greater Golden Horseshoe (GGH) housing markets tracked by the index. While home prices in the region have stabilized and begun trending higher on a monthly basis, rapid price gains recorded one year ago have contributed to deteriorating y-o-y price comparisons. If recent trends remain intact, year-over-year comparisons will likely improve in the months ahead.

Apartment units again posted the largest y-o-y price gains in May (+12.7%), followed by townhouse/row units (+4.9%). By contrast, one-storey and two-storey single family home prices were down (-1.5% and -4.7% y-o-y respectively).

Benchmark home prices in May were up from year-ago levels in 8 of the 15 markets tracked by the index.

Composite benchmark home prices in the Lower Mainland of British Columbia continue to trend upward after having dipped briefly in the second half of 2016 (Greater Vancouver (GVA): +11.5% y-o-y; Fraser Valley: +20.6% y-o-y). Apartment and townhouse/row units have been largely driving this regional trend while single family home prices in the GVA have stabilized. In the Fraser Valley, single family home prices have also started rising.

Benchmark home prices were up by 11.5% on a y-o-y basis in Victoria and by 18.1% 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 (+3.8%). By contrast, home prices in the GTA, Oakville-Milton and Barrie were down from where they stood one year earlier (GTA: -5.4% y-o-y; Oakville-Milton: -5.9% y-o-y; Barrie and District: -6.3% y-o-y). This reflects rapid price growth recorded one year ago and masks recent month-over-month price gains in these markets.

Calgary and Edmonton benchmark home prices were down slightly on a y-o-y basis in May (Calgary: -0.5% y-o-y; Edmonton: -0.9% y-o-y), while prices in Regina and Saskatoon were down more noticeably from year-ago levels (-6.2% y-o-y and -2.7% y-o-y, respectively).

Benchmark home prices rose by 8.2% y-o-y in Ottawa (led by a 9.5% increase in two-storey single family home prices), by 6.7% in Greater Montreal (led by a 7.3% increase in two-storey single family home prices) and by 4.3% in Greater Moncton (led by a 4.8% increase in townhouse/row unit 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 May 2018 was just over $496,000, down 6.4% 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 more than $104,000 from the national average price to just over $391,100 and trims the y-o-y decline to 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. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

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 Resale Housing Market Forecast

CREA Updates Resale Housing Market Forecast

Ottawa, ON, June 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 2019.

Housing market fundamentals remain strong in many parts of the country. Nonetheless, many housing markets continue to struggle in the face of policy headwinds.

The new mortgage stress test announced last October had been expected to cause homebuyers to rush purchases in advance of the new rules coming into effect in January and for the “pull-forward” of sales activity to result in fewer transactions in the first half of 2018.

Evidence suggests the policy response was stronger than expected, with seasonally adjusted national home sales last December having surged to the highest level ever recorded before dropping sharply in early 2018.

Actual (not seasonally adjusted) national sales figures for March, April and May are typically among the most active months in any given year. Combined sales fell to a nine-year low for the three-month period. The seasonally adjusted trend suggests sales momentum has not yet begun to rally.

Interest rates are widely expected to rise further this year and next. Home sales activity is nonetheless still expected to strengthen modestly in the second half of 2018 as housing market uncertainty diminishes.

Taking these factors into account, the national sales forecast has been revised downward and is now projected to decline by 11% to 459,900 units this year. The decrease almost entirely reflects weaker sales in B.C. and Ontario amid heightened housing market uncertainty, provincial policy measures, high home prices, ongoing supply shortages and this year’s new mortgage stress test.

The national average price is projected to ease to $499,100 this year. This is little changed from CREA’s previous forecast and a decline of 2.1% from 2017. Only Newfoundland and Labrador’s average price is expected to post a decline of that size, while more than half of all provinces are forecast to see increases. The national average price reduction reflects fewer transactions in B.C. and Ontario.

The average price decline forecasted for Ontario (-1.7%) largely reflects fewer higher-priced home sales in Toronto, particularly during the important spring market which usually sees a seasonal jump in the average price but which failed to materialize this year. While this seasonal pattern is expected to resume in 2019, the boost to the annual figure from the spring surge has been absent this year.

Meanwhile, home prices in Eastern Ontario, Quebec, New Brunswick, Nova Scotia and Prince Edward Island are expected to continue rising following steadily firming market conditions in recent years. British Columbia is also now forecast to see its average price rise in 2018, as prices in the province have been more resilient than previously expected.

Home prices are forecast to edge down by 1% in Alberta, by 1.5% in Saskatchewan and by 2.9% in Newfoundland and Labrador. In the latter two provinces, supply remains historically elevated in relation to demand.

In 2019, national sales are forecast to rebound modestly to 474,800 units but remain below annual levels recorded in 2014 through 2017. The anticipated partial recovery in sales over the second half of 2018 from deferred purchases over the first half of the year in Ontario and B.C. is subsequently expected to fade over 2019 as interest rates continue to rise. This trend is also predicted to occur in other provinces but be most pronounced in B.C. and Ontario, where transactions have fallen sharply over the first half of 2018 despite a supportive economic and demographic backdrop for housing demand.

The national average price is also forecast to rebound by 3.8% to $518,300 in 2019, reflecting an expected return to normal seasonal patterns for spring sales activity and prices in Ontario housing markets. Indeed, the MLS® Home Price Index is rising among urban centres in B.C. and Ontario.

Market balance is continuing to firm in Quebec, New Brunswick, Nova Scotia and Prince Edward Island. Further modest price increases in these provinces are forecast in 2019, with price gains held in check by rising interest rates. Meanwhile, prices in Alberta, Saskatchewan, Manitoba and Newfoundland and Labrador are forecast to remain stable 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. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

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