Calgary real estate is predicted to remain balanced in 2021, despite persistent economic pressures tied to the oil and gas industries, as well as COVID-19.  

According to Re/Max, the outlook for Calgary real estate in 2021 is a 3% increase to just over $470,000

Demand for Calgary homes is now driven by upsizing and first-time buyers, and is predicted to continue beyond 2021. These purchasers choose single-family houses.

In Calgary, first-time buyers are mainly singles or young couples seeking for single-detached houses. Due to low borrowing rates, many first-time homeowners have opted to purchase.

Calgary condos average just over $225,000. The supply of condos in Calgary is presently 7 months, and this is not projected to change in the next 1-2 years due to the significant quantity of used properties and new development. The average starting price for a luxury property in Calgary is $750,000.

Areas such as Bankview as pictured, present some of the most diverse price ranges.

Northern, Southern, and Northern/Central Western Calgary were the top areas for home sales.

It's close to the airport and downtown, whereas South Central is newer and close to the hospitals. These areas will remain popular in 2021 due to their proximity to amenities and transit. Calgary's new-home sales are slowing, and many developers are seeking for property to build on. A proposal was rejected a few months earlier owing to COVID-19 and the present economic climate. The quantity of new houses being built in Calgary is adequate to fulfil current demand, and new home prices are highly competitive.

Canadians are relocating. The re-location trend across the Canadian housing market is significant, and we expect solid national house price increases.

A persistent and widespread housing supply deficit will certainly persist, posing hurdles for purchasers and driving up costs. Moving-over purchasers from other cities and provinces will continue to drive market activity in early 2022.

Move-up purchasers will likely be a significant driver of property market demand in 2021 In 2021, 52% of Canadians say real estate will be a good investment. We anticipate the supply issue, pent-up demand, and record low loan rates will continue to fuel activity in 2021.

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Coach Hill/Patterson Heights is in southwest Calgary, established in the 1970s. It is a mixed-use development with detached homes, townhouses, and flats. The region was named after the Old Banff Coach Road, which used to transport stagecoach passengers to Banff.

Patterson Heights began in the 1980s. Previously, it was mostly privately held land. Patterson Heights has two landmarks. The CFCN tower gave the region its original name, Broadcast Hill. The Crandel family operated the first brick factory in Alberta and lived in a historic brick mansion nearby. The plant located in Edworthy Park, near Brickburn Railway Station. The Patterson family, for whom the neighbourhood is named, bought the Crandel home.

The Bow Trail connects Coach Hill/Patterson Heights to downtown. The region has great views due to its height. The community facility is surrounded by greenery and has a playground, soccer fields, a baseball diamond, and an outdoor rink. Some of the popular activities at the community centre include: line dance, Celtic dancing, Tae Kwon Do and Girl Guides and Brownies. The Girl Guides help clean up the town and preserve gardens and green spaces. Coach Hill/Patterson Heights co-ordinates sports with Strathcona/Christie. Coach Hill/Patterson Heights also hosts annual activities such as a Stampede breakfast.

View of coach hill looking towards nose hill and Edgemont with rocky ridge and Tuscany visible in the far distance.

As a mature Neighborhood, Coach Hill continue to see new projects and developments

Even though Coach Hill Patterson Heights is a well-established neighbourhood, there are still many changes happening inside and around it, for example, Kumlin Sullivan Architecture Studio and the proprietor of 1186 Prominence Way SW want to apply for a land-use redesignation within the area for a future development.

Outdoor Activity Center & School Redesign

The community is currently converting the present Adopt-a-Rink location into a year-round outdoor activity centre. 

The Calgary Board of Education revealed in late June 2021 that the completed plan for High School Resignation is the same plan presented on June 1, 2021.

Despite strong community opposition, kids from Coach Hill and Patterson Heights will attend Bowness High School rather than Ernest Manning High School. Coach Hill and Patterson Heights used to attend EMHS, but due to overcrowding, communities were forced to relocate.

Trinity Hills/ Medicine Hill

The Paskapoo Slopes stretch 4 km west and northwest of Patterson Heights along Highway 1 to COP. 

The 260-acre parcel was sold to Trinity Development Group, and in 2015 the City Council authorised a plan to develop around 100 acres of land on the Paskapoo Slopes into a mixed-use community named Medicine Hill. Visit the Trinity Hills website for further details.

View of Coach hill, west suburbs and downtown Calgary with the new ring road

SW Ring Road

The completion of the SW portion of the ring road has improved the accessibility of this area considerably. Access South Calgary, businesses on MacLeod such as Chinook Center, and get out to Kananaskis easier than ever before!


Why Coach Hill?

If you are looking to enjoy the advantages of a mature community in West Calgary, Coach Hill is a great option with its close proximity to inner city Calgary, LRT access, and short drive time to escape out to the mountains.

Home sellers know they are competing both with the new infills in neighboring communities like Rosscarrock and Killarney, as well as the newer homes out west in communities like West Springs and Aspen woods. Homeowners in this area are well aware of this and that is why we have seen quite a few extensive rennovations featured on many of the houses we have listed here recently, in fact this might be a sweet spot for value in West Calgary that is often overlooked when consumers are faced with the marketing for newer communities further out west.

Not only do homes in Coach Hill feature larger lots than those in adjacent communities, but there is far more green space and pathways in the area than neighboring inner city communities.

Commuters will also enjoy the convenience of getting to downtown on Bow trail, which can often be a more pleasant experience than that had by those who live further North and need to cross the river to get downtown.

It goes without saying that we think this is an underrated community that should be considered by anyone looking for a home or investment property in West Calgary that is far enough away from Downtown to enjoy larger lots, but close enough to enjoy the LRT, and relatively easy access to Downtown.



We just listed a great completely modernized and renovated townhome in the neighborhood, check it out here!

If you have any other questions about this area or are looking for help buying and selling in the area, don't hesitate to get in touch with us today.

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Calgary's autumn estimates are mostly unchanged, with prices expected to remain flat or increase by 1%. RE/MAX brokers in Edmonton and Calgary have witnessed this trend, where buyers are taking advantage of increased purchasing power as a result of local house affordability and lower borrowing rates.

October sales totalled 2,186, a monthly high and approximately 35% higher than long-term norms. Year-to-date sales are already 61% higher than the previous five-year average.

According to local RE/MAX agents, this is projected to continue for the remainder of 2021. This can be credited to market changes, where oil prices are reverting to 2014 levels, which corresponds to a rise in Calgary condominiums.

Re/Max recently issued its Canada 2021 Condominium Report, which examined activity in five major locations and discovered that Calgary had the strongest growth, with sales increasing by more than 80 percent year over year from January to August.

Demand for lower-priced condominiums is being driven by relative affordability: Calgary is one of the few cities in Canada where a sub-$300,000 condo unit in a desirable location is available.

Condo sales plummet because they compete with single-family detached and semi-detached homes in the $400,000 to $500,000 price range.

According to brokers, there are two types of condominium buyers. First-time homebuyers who cannot afford a single-family home but want to get into the market being the first kind, the second would be customers looking for high-end urban options in their lifestyle.

Breaking down the numbers

Calgary and Area new home construction

While new listings climbed over last year, higher sales reduced inventory levels, which were 16% lower than last year and longer-term averages for the month. Although high sales have contributed to the decline in months of supply, supply has failed to keep up with demand. The supply was little over two months in October.

Because of the tight market conditions, benchmark prices increased this month. October's benchmark price of $460,100 was slightly higher than last month's and more than 9% more than the previous October's price of $422,600.

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Today we’re taking some time to showcase one of our favorite classic Calgary neighborhoods: Lakeview & North Glenmore Park!



Lakeview is a mature inner-city neighbourhood in southwest Calgary, near the north bank of Glenmore Reservoir, with magnificent views of the lake and the Elbow River Valley. Lakeview, which was annexed in 1956 and began construction in 1962, provides a diverse range of houses and many outdoor recreational activities that contribute to its unique sense of place. The Lakeview neighbourhood has a very active community association. North Glenmore and Lakeview Community Halls provide places for youth, meetings, and sports organisations, as well as wine tastings and weddings!

Lakeview Real Estate Ammenties

They are always creating new projects and activities, the most recent being programming for a Tai Chi class and a knitting class. Lakeview has an incredible feeling of community, which is felt by its proud inhabitants. With Glenmore Park, Glenmore Reservoir, Weaselhead Flats, and Heritage Park just outside your door, it's easy to understand why so many people call this neighbourhood home. With the community's Funday, winter hockey, skateboarding, soccer, and baseball, this plethora of facilities is only a taste of what Lakeview has to offer.

Glenmore Reservoir Aerial view

Old or new, big or small... whether you are looking for a move-in-ready home, to make a classic home yours with some chic decor or start fresh with a new build on an existing lot, there are a variety options in Lakeview for every budget and lifestyle! From apartment rentals, Lakeview Green townhomes, single family in Lakeview or North Glenmore Park, to Lakeview Village executive homes. Lakeview's sister community, North Glenmore borders the reservoire to the northeast and offers many of the same characteristics and lifestyle!

New Home Interior, Lakeview Calgary

With several beautiful parks and reserves, Lakeview is bound to have some stunning views! You can catch beautiful twilight-lit views of the Glenmore Reservoir as you drive through the neighbourhood or take a walk through Fish Creek Park!A unique aspect about a mature neighbourhood like Lakeview that is not found in newer subdivisions is its great canopy. Huge, mature trees help create comfortable shade in the summer and create a sense of privacy within your lot. No matter where you live within Lakeview, a stunning view is to be seen!

Moving to Calgary? Upsizing or relocating? Realtor® Ron Garneau is the go-to choice for Lakeview and North Glenmore Park!

Modern home with new exterior

A quick walk-through Glenmore Park showcases some of the modern, luxurious properties in Lakeview Village, But did you know there are also many homes at very reasonable price points? There are still opportunities to buy in Lakeview below the 500,000 mark, as well as some very well priced condos, perfect for new families!

We’re the go-to team for Lakeview homes and properties. If you have any questions about this community and finding the right home here, we’d love to hear from you!

Lakeview Real Estate

Ron's first priority is to make real estate transactions fun, easy, and stress free for his clients. Working in the Calgary and area makret since 2002, we would love to help you make your next move.

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Lets have a look at this amazing property in one of our favourite future NW Calgary districts: Evanston

Evanston, which is situated northwest of Calgary, offers all of the facilities you'll need to take advantage of all the city has to offer. For those travelling for business or leisure, the Stoney Trail NW passes beside Evanston and provides convenient access to downtown Calgary.



Do you wish to have a relationship with nature? Nose Hill Park's wide-open spaces are nearby, and you can easily access the TransCanada Highway for a weekend getaway in the Rockies if you so choose. Because the Calgary International Airport is near by, your out-of-town friends and relatives won't have to travel far to visit you and your family.

This lovely two-story home is located on a quiet street in Evanspark Garden and has a south-facing backyard. It is available for immediate occupancy. One level of this house has a living room with fireplace, an open and light big kitchen with stainless steel appliances, a long peninsula and an adjacent breakfast nook, and a two-piece bathroom. The second level of the home includes two bedrooms and a two-piece bathroom. Located on the top level are three spacious bedrooms, the biggest of which has an attached full bathroom as well as an additional walk-in closet. In addition, the laundry room is situated on the top floor.


The options are endless when you have a partially finished basement that has been roughed in for plumbing and is simply waiting for your own finishing touches to complete it. A neutral colour scheme has been used throughout the house, and it is located on a quiet neighbourhood near to parks and recreational amenities. The fully fenced sunny south yard is a great place to relax.


There are many opportunities to interact and have fun with your family thanks to the abundance of open green areas, verandahs, pathways, and parks. The city of Evanston's many green spaces, which include playgrounds and a neighbourhood gazebo, have been designed to function as gathering places as well.


There are three schools within walking distance of the house. Currently, there are 2 available. You may easily do all of your tasks thanks to the presence of a flourishing business centre in the area. There are seven playgrounds, 16 green spaces, and a network of linked pathways and walkways spread across the parklands.


Evanston is one of the city's fastest-growing neighbourhoods, and its developers have built the area around a goal to minimise their environmental impact, provide enough options for outdoor leisure, and create innovative and diverse communities that appeal to people of all ages.


Check out the listing here!

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Glenmore Reservoir Kayaking: A Great Place to Start Learning Water Sports

The Glenmore Reservoir is a great way to get out on the water for a morning or afternoon. There are three access points you can launch your kayak from: the Calgary Canoe Club, Heritage Park and Glenmore Sailing School. Bylaws include no pets allowed on boats, no inflatable boats permitted and no power motors permitted.


The majority of Calgary's drinking water comes from the Glenmore reservoir; and thus the Bylaws of the City of Calgary must be followed. Boating is only permitted between May 1 and October 31. There will be no drinking of alcoholic beverages or swimming in the reservoir. You should also consider the season; sometimes the park is closed for various reasons, so make sure you check this before embarking on your excursion. There could be an abundance of huge floating and semi-submerged debris in the reservoir, producing hazardous conditions.


Elbow River


While in past years Elbow River has been a popular destination for canoeing and kayaking, one common thing we are hearing this year is concerns of the water quality.


The Elbow River is a shallow and slow moving river that runs through, and is influenced by, a dense urban area. Water quality can be influenced by a variety of factors including heavy rainfall, agriculture, storm water discharges, groundwater and high river flows. AHS will continue working with the City of Calgary to monitor river quality.The Elbow River is a shallow and slow moving river that runs through, and is influenced by, a dense urban area. Water quality can be influenced by a variety of factors including heavy rainfall, agriculture, storm water discharges, groundwater and high river flows. AHS will continue working with the City of Calgary to monitor river quality.


For a more beginner friendly location check out some of the smaller lakes in and around the city: Lake Chestermere offers an easy accessible space that is only a few minutes outside the city to the East.


Boy River Kayaking

Bow River

A family-friendly rafting and tourism activity that is among Canada's most popular urban excursions is the Bow River. For a water craft, the most popular forms are rafts, tubes, kayaks, and stand-up paddle boards. The City of Calgary provides excellent river navigation information for kayakers, rafters, and tubers who are out on the Bow River in late summer and early fall. Rental businesses such as Sports Rent, AQ Outdoors, and Lazy Day Raft Rentals all provide inflatable rafts for kayakers. River users in Calgary must meet a series of criteria set by the Fire Department, and you this should definitely be an option considered for intermediate users with some experience and awareness of water safety.


Items required for full functionality are shown with an asterisk: A river-appropriate watercraft that can accommodate your group's weight capacity, with the necessary life jackets and personal flotation devices for everyone on board, a mobile phone, drinking water, and sunscreen; also, have a bailer on board to deal with water within the watercraft. One of Calgary's most famous tourist attractions, the Bow River offers a sprawling expanse of a playground for the water savvy (Did you know there is a surfing spot on the Bow?). The CN Railway that runs beside and over the river seems like a steady handrail for the walker along the beautiful path. Being able to enjoy this fun outdoor sport right on our doorstep is a blessing. One of the greatest hurdles to overcome during your event is the process of setting up and taking down your group's equipment.


One popular destination is Lazy Day Raft Rentals: They provide an affordable and easy raft delivery service with a vehicle that picks up the rafts at your launch site. You'll also see more skilled kayakers and whitewater river surfers perfect their craft on the man-made rapids. Feel the thrill of adventure with your family this summer and check out our blog about Skyline Luge for a unique family activity.


Man Kayaking in Calgary

Feeling a bit more confident in your Kayaking Skills? It may be time to check out the amazing spots in the Rocky Mountains

There's unbeatable canoeing and kayaking opportunities across the province. In Banff, visit the Banff Canoe Club for rentals, advice and some fantastic paddling on the Bow River. In Jasper, stop at the historic Maligne Lake Boat House, rent a canoe, kayak or rowboat and paddle across the famous lake. In Waterton Lakes National Park, visit Blakiston & Company to get sorted out with canoe and kayak rentals.


Lake Miniwanka offers both waterfront campsites and motorised boats. Make sure to check the weather beforehand, while this spot is fairly easy to access it’s known for strong winds.


Lake Louise and Moraine Lake are small but breathtakingly beautiful, and if you go on a weekend when the parking lot is full and vehicles are parked on the road, they will waive you through to the parking lot if you have a boat on the roof.


Maligne Lake in Jasper National Park is also worth a visit. There are two backcountry campsites, one 11 kilometres and the other 21 kilometres from the boat launch. Tour boats are restricted to the centre of the lake and may only be propelled by electric engines or paddle and oar. The campsites fill up quickly, although there are a lot of cancellations. Because to the possibility of strong winds, stay close to the coast. Awe-inspiring scenery.

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If you are new to working from home or feeling the fatigue from having done so thus far, here are a few things you may need to review as a bit of a reality check. The novelty is over and it’s time to get comfortable with this kind of lifestyle!


Here we are at the end of August 2021, and we are learning about more and more offices announcing their work from home policy will carry into 2022! My team has certainly learned to adapt to this new normal, and as we and other real estate teams in Calgary learn to adapt, here are some of the tips we came up with that have served to make the work life balance feel a bit more fair.

“Punch in and punch out” – No working after hours.

Write out a daily schedule and stick to it without fail. Workers who work remotely often discover that it is useful to have guidelines for when to work and when to call it a day. Long nights are harmful to your health, and they are just as damaging to remote employees.

When you're taking everything into account, working remotely may need pushing your day later or getting up early to suit another person's time zone. Do not forget to get a head start and/or sleep in, or get that morning workout done for the day. Putting in place a time-tracking software with automatic scheduling helps you maintain tabs on whether you are meeting your goals, but it’s up to you to create a distraction free space where other parts of life cannot interfere with your job (your family will thank you too)


spending too much time working from home

Ban yourself from social media.

It's fair to say that all of us have been in this situation at some time:  a multitude of mobile applications now share with users how much time they spend on different activities on a daily basis. Ask yourself how this number has changed since you started working from home. Getting a second device for personal use only is a great strategy for people who use social media casually. Familiarize yourself with your company's social media rules and processes. LinkedIn included, make separate time in your day for networking. You'll have less of a problem focusing on your job if you limit your social media usage.

 

Dress in a manner suitable to the occasion (and that means no sweatpants)


Why is it that so many people love working from home? A key element is the fact that they may want to wear casual clothes while working. The "dress for success" concept is much more than a cliché when it comes to working from home.


It’s not appropriate to be caught off guard in pyjamas on a video chat or check-in with a colleague, and dressing like you’re going into the office helps get yourself psychologically prepared for work. You'll be ready to complete your assignment, and you'll be ready to tackle the remainder of the day.


 

Find your optimum productivity hours.

The time of day when people feel most productive is unique to each individual. It’s a bit cliché to say we’re night owls or early risers, but you know your schedule and you know when you are the most awake – that is crunch time!

One strategy we love is to go work from the coffee shop for mornings 2-3 times a week – if there are no calls or zoom meetings, this change of environment helps the day go by quicker and motivates us to stick to our schedule.

The majority of people feel that they are most productive during the late hours of the workday. To maximise your productivity, try to schedule your most important tasks during your most productive times. This way, you will be able to complete your work more quickly.


Remote teams must meet often, and companies that want to form such a team will find that their workers want to do so.

One option for doing this is to have a remote approach to teambuilding. Increase the importance and effectiveness of the process of establishing and strengthening relationships. You should be careful with the agenda to maximise the team development benefits.


working with home around your family


What sort of teambuilding exercises can you adapt to Zoom or conference calls? Get creative and come up with ways to engage each other.

Some of our friends have a ritual of playing an online card game twice a week after a meeting.Our team has a group chat where we post cool property videos and crazy things people are doing with drones and gopros,

This helps us stay engaged and come up with cool new marketing strategies, a fun way to check in on some of the houses for sale in Calgary and get new ideas

Most Alberta workers poll favorably towards wanting to visit their office quarterly: This fosters a feeling of connection and membership in the group. Spend lunch hours making new contacts in other settings outside from the office.

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We just got through one of Alberta's worst summers in terms of smoke and poor air quality. How do we get ready for next year?

Wildfires will alter the face of Canada's housing market: The number of available properties has been reduced by thousands, according to real estate agents. We were fortunate in Alberta this summer not to have too many wildfires near to urban areas, but other provinces were not so fortunate.


When wildfires raged throughout British Columbia, people in the path of the flames were showered with powdered debris, while people living kilometres distant inhaled air polluted with dangerous chemicals and microscopic particles from burnt building materials and plants.


Here are some more steps you can do to protect your home against smoke, eliminate odours from interior air and furnishings, and quickly make your yard more fire resistant.


Installing a filter in a wall return

Ensure your home is Weatherized

The federal government recommends home weatherization to reduce the amount of energy required for heating and cooling. While weatherization is being completed, steps should be taken to limit pollutants within the home.


Furthermore, householders should be aware of signs of inadequate ventilation, such as stuffy air, moisture condensation on cold surfaces, or mould and mildew growth. Additional weatherization measures should not be put in place until these concerns are rectified.


Storm windows, weather stripping, caulking, and blown-in wall insulation, on the other hand, can reduce the amount of exterior air that enters a property.



It's the end of August, and Calgary HVAC Companies are finally open for business. Is it time to maintain your home?

On a daily basis, inspect your heating filters. You will need to change or clean them more regularly due to the level of wildfire smoke. According to Consumer Reports, once a filter is full, it no longer captures particles. Make sure you have the appropriate size filter to capture particles.


Make backup filters. Health specialists and others advocate only HEPA filters, which force air through a small mesh and catch particles in central heating, ventilation, cooling, and air systems. If you have a central HVAC system, the setting the fan to different modes to see what works best for your home: I.e. cycling the fan on clear days, and keeping it on a much lower setting on smokier days.


HVAC systems do not bring in outside air. Air purifiers that can clean the air in an area at least four times per hour are suitable for allergy and asthma patients.  Turn off your fresh air system until the smoke has passed since it will bring in filthy air from outside. Once the smoke has gone, turn it back on.


An Air Purifier is a fantastic idea, but it is essential to select one that is appropriate for the space. When deciding on the right size air purifier for your requirements, take into account the square footage of the room you want to clean.


It's important to select the right size of Air Filter for your living space.


A General guideline for sizing and space:

  • Small: These air purifiers are designed for personal usage or spaces up to 300 square feet in size.
  • Medium: Look for an air purifier for rooms that are 300 to 700 square feet in size.
  • Large: For use in rooms ranging up to 2000 Sqft, or more.


There is no air cleaner or filter that can eliminate all air pollutants. According to the EPA, air purifiers with HEPA filters may reduce particle concentrations by up to 85%.


According to Consumer Reports, an air purifier with a carbon filter that absorbs odours is required to remove the odour of smoking. Both types of filters may be found in a variety of units.


We recommend selecting a portable air cleaner with a clean air delivery rate (CADR) greater than 300 cubic feet per minute for densely crowded regions or a bedroom for someone with asthma.


If the air in your room is stagnant, you run the danger of just cleaning the air in a small area around your purifier. The optimum configuration is a purifier with an integrated air projection system that pushes clean air into all corners of the room while cycling dirty air back into the unit for purification.

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The tumultuous real estate market may be stabilising, especially for first-time buyers and those searching for a modest home.

What’s going on with Canada’ oil prices, and some key events abroad; the Taliban’s impact on Afghanistan’s economy could cause ripples felt throughout most of the world.

At the moment, inventory remains low countrywide, down 33.5 percent in July compared to the previous year. However, the reduction is less than the 43.1 percent loss in June, new listings are up 6.5 percent countrywide compared to the same month last year, and the inventory coming on the market might be good news for buyers seeking for a low-cost home: According to the data, smaller residences are gradually obtaining a bigger part of the inventory.

We think one of the biggest things to keep in mind is how when oil prices are rising along with other commodities, the Calgary real estate market gets a boost. Real estate prices in Calgary have just begun to rise, although they are still lagging behind national price increases. Historically, the area has underperformed when oil prices have been low. Home prices are expected to rise now that crude is at an all-time high, according to the economist, at least on a relative basis.

The share of houses for sale between 750 and 1,750 square feet in July 2021 jumped to 36.3% in July. The inventory of homes between 3,000 and 6,000 square feet dropped to 20.1%, down from 24.2% in 2020. Overall, this means a rosier outlook for homebuyers.


Taliban, Afghanistan, Oil Prices, and it’s impact on our market.

Real estate values in Calgary have typically risen and fallen in lockstep with oil prices, which makes sense. Although it is a huge metropolis, the oil sector is one of the most important economic drivers in the area. During the 2010 oil price boom, as well as the one in the early 1980s, home values skyrocketed. Oil prices are rising again, but housing values in Calgary are lagging behind the rest of the country, and the fate of housing prices in the medium term could depend heavily on one major factor.

In May, the MLS home price index (HPI) in Calgary increased by 11% year over year. It's a lot of growth in a regular time, but not so much in the middle of a boom. Over the same time period, national house prices climbed by 23%. Even with the current surge in oil prices, Calgary's prices have yet to rise. What might make or break the trends in current investors, however, is the situation in Afghanistan  

Experts think Afghanistan's political unrest might have an impact on global crude oil prices. Iran, along with other nations like Saudi Arabia and the United Arab Emirates, is a significant oil producer in the globe. Oil prices might rise if the Taliban return to their former methods and provide sanctuaries for Islamic extremists from the hydrocarbon-rich Middle East, North Africa, and Central Asia, according to energy analyst Narendra Taneja.


Tensions in the "Middle East have the potential to raise prices," according to Barrons, a Dow Jones & Company newspaper. It was highlighted that JP Morgan had previously projected that growing demand and tight supply would push oil prices to $80 per barrel. Increases in global petroleum prices have a direct impact on India's economy, especially as the nation imports more than 80% of its total crude needs.


Reduced competition and lower pricing despite a potential rebound in pricing


Regardless of what happens with oil prices in the coming weeks, there have been some other shorter term changes to the market. People no longer cite bidding wars as the main reason they weren't able to get the home they wanted, for the first time since 2018. Homes are spending slightly longer on the market — 16 days on average — than a few months ago. The National Association of Home Builders released its annual Housing Trends Report this week.

Sellers are have also started dropping their prices, with the share of listings that had price drops in July rising to 4.7%, the highest percentage since 2019, according to Redfin. Mortgage applications dropped 1.7% week-over-week during the week ending July 30, hitting their lowest level since May 2020.

In the United States, gasoline and fuel costs have already surpassed all-time highs. Meanwhile, in order to reduce its dependency on a few exporting nations, India has attempted to diversify its oil-importing markets. The United States and Nigeria, for example, have emerged as major oil suppliers to India. Now is a good time to pay attention to world affairs before planning out any long term investment strategies, and we would advise that coming fluctuations on oil prices might be one of the biggest driving forces in the coming weeks.