Bank of Canada makes its first rate cut in four years, to 4.75%
The Bank said policy no longer needs to be as restrictive. Shelter inflation remains high, and future cuts will depend on the data.
Berg Estate Team blog
News & Insights – Page 12
Calgary real estate market news, our monthly market updates and new videos from the Berg Estate Team: Tom Berg and Valery Berg, REALTORS® with eXp Realty.
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Airdrie, Cochrane and Okotoks in May 2024: detached homes near $700,000 in Okotoks
Airdrie inventory is half of normal, Okotoks is 55% below normal, and Cochrane prices rose 10% in a year, led by condos.
Calgary housing market, May 2024: listings jump, but supply stays tight below $600,000
Detached homes under $600,000 are only 13% of detached inventory. The City Centre has the most supply at 1.5 months.
Calgary mails 2024 property tax bills: payment due June 28
Over 310,000 owners already pay monthly. If your bill has not arrived by the first week of June, call 311 – the penalty applies either way.
Calgary REALTORS to invest $500,000 in housing and shelter in 2024
Applications for Community and Transformation Grants are open until June 28, 2024. The Legacy Grant completes a three-year, $1 million commitment.
Calgary council approves citywide rezoning after a record 15-day hearing
The decision followed 736 speakers and 6,101 written submissions. Council changed the plan on parks, parking and backyard suites.
Airdrie, Cochrane and Okotoks in April 2024: Airdrie detached near $650,000
Airdrie stayed under one month of supply at a 92% ratio. Cochrane supply rose to nearly two months as fewer new homes were resold.
Calgary housing market, April 2024: benchmark price tops $600,000
Supply of homes under $500,000 fell 29%, while listings grew above $700,000. Condos now make up nearly 30% of all resale activity.
Calgary’s citywide rezoning hearing opens, the largest in city history
The proposal, part of the Housing Strategy, would let more housing types be built on most residential lots. The hearing runs over several days.
Budget 2024: bigger RRSP Home Buyers’ Plan and 30-year mortgages for new builds
The 30-year amortization starts August 1, 2024. HBP repayments get a three-year longer grace period for withdrawals from 2022 to 2025.
Bank of Canada holds at 5% but sees inflation easing
The Bank says it will look for evidence that the downward momentum in inflation is sustained. It noted that residential investment is strengthening.
Airdrie, Cochrane and Okotoks in March 2024: Cochrane detached tops $650,000
Airdrie's ratio was 93% with under one month of supply. Okotoks inventory was nearly 70% below long-term trends, its tightest March since 2006.