Inflation & Interest Rates
Posted on Jan 31, 2022
Early in the Covid-19 pandemic, the Bank of Canada slashed its overnight lending rate with the idea of driving down borrowing costs and stimulating activity in a shattered economy. Things have significantly improved since the beginning of the pandemic and the unemployment rate has dropped to around 6%- down from the high of 14% in 2020. The low int...
Property Assessments
Posted on Jan 25, 2022
In January of 2022, Property Assessments were mailed out to property owners in the City of Calgary. In 2022 the total assessment amounted to $313.5 billion, a $16.5 billion increase since 2021. As a result of the 2022 Assessment, the typical change between this year and last was 6% for residential and -5% for non-residential properties. The detache...
Should You Rent or Buy?
Posted on Jan 17, 2022
Often people say you are throwing your money away if you choose to rent and pay someone else’s mortgage, but this isn’t always the case. The most important factor in making the decision to rent or buy is to determine how long you plan on staying in the home. The longer you intend to stay the more cost efficient it becomes to own a home. A home’s va...
Calgary's Seller's Market
Posted on Jan 17, 2022
As you've probably heard by now the Real Estate Market has been very lucrative for Sellers over the past year. You’ve probably also heard about how frustrating it has been to many buyers and many people are wondering what is driving this increase in activity. When the Government responded to Covid-19 by imposing lockdowns and stay at home orders ba...
Calgary Market Update
Posted on Jan 11, 2022
City of Calgary, January 4, 2021 – Thanks to exceptionally high sales in December, 2021 was a record year for home sales. Calgary sales reached 27,686 units this year, nearly 72 per cent higher than last year and over 44 per cent higher than the 10-year average. “Concerns over inflation and rising lending rates likely created more urgency with buye...