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Posted in Canada Employment
Canada's job gains double expectations, but unemployment rate ticks up higher
Exciting News for Canada's Job Market! Despite the unemployment rate ticking up, job gains have surpassed expectations, with 41,000 new jobs added in February.

As a Realtor, this signals positive momentum for the housing market! More jobs mean more potential homebuyers entering the market.

While employment growth may be trailing population growth, the surge in full-time work indicates stability and confidence in the workforce.

With job gains spread across various sectors, including accommodation and food services and professional services, the economy shows resilience and diversity.

As we navigate these economic shifts, rest assured that the real estate market remains a solid investment option.

Let's continue to monitor these trends and seize opportunities together!

Have questions? Thinking of buying or selling? I’m here to help you make the best financial decisions. Reach out today!
 
Jason Streich
Real Broker
(403) 807-2204
jason@jasonstreich.com
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Posted in Housing Market Update
February 2024 | Calgary Real Estate Housing Market Update
Low inventory and high demand drive price gains in February! New listings continued to rise in February, reaching 2,711 units. However, the rise in new listings supported further growth in sales, which increased by nearly 23% compared to last year for a total of 2,135 units.

The shift in sales and new listings kept the sales to new listings ratio exceptionally high at 79% ensuring inventories remained near historic lows.

Low supply and higher sales caused the months of supply to fall to just over one month, nearly as tight as levels seen during the spring of last year.

It is this strong demand and low supply that continues to drive price gains in Calgary. The biggest supply challenge is for homes priced under $500,000, which saw inventories fall by 31% compared to last February.

At the same time, we are starting to see supply levels rise for higher priced homes supporting more balanced conditions in the upper end.

In February, the unadjusted benchmark price was $585,000, an over 2% gain compared to last month and over 10% higher than levels reported at this time last year.

Our most affordable East district is experiencing the highest year-over-year price growth at 25%, while the relatively better-supplied City Centre has reported the slowest price growth in the city at under 5%.

Secure your dream home or investment property today! Connect with me today to take advantage of the current market conditions.

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Posted in BoC Rate Announcement
March 2024 | Bank of Canada Rate Announcement

Exciting update from the Bank of Canada! Today, they've decided to maintain the policy rate at 5%, signalling a commitment to restoring price stability for Canadians.

Despite global economic growth slowing down, Canada's economy showed resilience, growing more than expected in Q4, albeit at a modest pace.

With employment growth trailing population growth, there are signs of easing wage pressures.

CPI inflation eased to 2.9% in January, but underlying pressures persist.

The Bank remains focused on balancing demand and supply, inflation expectations, and corporate pricing behaviour.

Now is the time to take action in the real estate market. Whether you're looking to sell, buy, or invest, take advantage of the opportunity presented! I'm here to guide you and help you make informed decisions.

Reach out today and let's discuss how you can leverage this moment for your real estate goals!

Jason Streich
Real Broker
(403) 807-2204
jason@jasonstreich.com

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Posted in Home Buying, Home Selling
Buyers Are Coming

The future looks bright! Here are three reasons why these trends are impactful:

Growing Families: With 3 million marriages and 7 million births projected, we're witnessing a significant increase in family formation. This not only signals personal milestones but also indicates a surge in the demand for larger homes or homes in family-friendly neighbourhoods.

Pent-Up Housing Demand: As more people get married and start families, combined with declining mortgage rates, there's a pent-up demand for housing. This creates a favourable environment for sellers as the market experiences increased competition and potentially higher selling prices.

Economic Implications: The housing market is not just about buying and selling homes; it's a crucial indicator of economic health. Increasing marriage rates and birth rates, along with favourable mortgage conditions, can stimulate economic growth by driving demand for construction, home improvement, and related industries, contributing to overall economic prosperity.

Ready to make your move? Reach out today!

Jason Streich
Real Broker
(403) 807-2204
jason@jasonstreich.com

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Posted in Home Buying, Home Selling
Sellers Are Coming

Exciting news ahead for homebuyers, sellers, and investors; it's time to seize the moment! Here are three reasons why the influx of sellers turning 65 over the next 2 years is a positive thing:

Increased Inventory: We'll see a boost in housing inventory, providing buyers with more options to find their dream home.

Diverse Buyer Pool: As cash-flush retirees enter the market, they'll not only be selling homes but also looking to downsize, upgrade, or invest. This diversity in buyer preferences will create a dynamic marketplace catering to a range of needs and desires.

Market Stimulus: The surge of retirement-age sellers will inject vitality into the real estate market, driving both supply and demand. This activity stimulates economic growth, fosters community development, and strengthens the overall health of our local housing market.

Together, let's navigate this dynamic landscape and turn your real estate goals into reality. Reach out today to embark on your journey with confidence!

Jason Streich
Real Broker
(403) 807-2204
jason@jasonstreich.com

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Posted in Housing Market Update
January 2024 | Calgary Real Estate Housing Market Update
January sales rose to 1,650 units, a significant gain over last year's levels and long-term trends. The growth was possible thanks to a rise in new listings totalling 2,137 units in January. New listings rose for homes priced above $300,000, but the largest gains occurred for homes priced above $700,000.

The rise in new listings relative to sales did little to change the low inventory situation in the city. With 2,150 units in inventory, levels are near the January record lows set in 2006 and are nearly 49% below the long-term average for the month.

The months of supply in January was 1.3 months, falling over last month's and last year's levels. The persistent tightness in the market contributed to further upward pressure on home prices. The unadjusted benchmark price in January reached $572,300, a gain over last month and 10% nt higher than levels reported last January.

Ready to make a move? Act now to secure your slice of the market before prices climb even higher. Let’s discuss your next steps today!
 
Jason Streich
Greater Calgary Real Estate
(403) 807-2204
jason@jasonstreich.com

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Posted in Housing Market Update
Top 5 Reasons Canadians Will Move In 2024
Canada continues to be one of the best places to live in the world. Vancouver, Calgary and Toronto are all in the top ten cities to live in the world — according to the Global Livability Index. Here are the top five reasons Canadians will move in 2024:

1. Move closer to family.
2. Bigger or better housing.
3. A more desirable neighbourhood.
4. Form own household.
5. Change of work or life.

If one of these sounds like you, now is the time to talk through the unique opportunities in this market. I’m grateful to be your trusted advisor for all your real estate needs.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jason@jasonstreich.com

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Home Renovations

Now that the winter is here and we’re all inside more of the time than usual, you may be feeling that your home is a bit cramped. If so, you’re not alone. One in four people say they’ve outgrown their home.

This month I’m sharing some information on why and how people decide to renovate their homes. It could be an easy fix, like reconfiguring existing rooms or a much bigger project, such as building an accessory dwelling unit (ADU) or adding a second story. I’ve also included typical costs for these projects as well as the ROI. (Of course, costs will vary based on scope of project and location).

If you need a professional to help you with any home renovations, feel free to reach out and I’ll connect you to one in my trusted network.

Jason Streich⁠
Real Broker
(403) 807 2204⁠
jason@jasonstreich.com

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Posted in Mortgage
Are you searching for a seamless mortgage experience to elevate your real estate journey?

Are you searching for a seamless mortgage experience to elevate your real estate journey? I'm excited to connect you with top-notch mortgage brokers who share our commitment to excellence. From competitive rates to personalized service, they've got you covered. Let's kickstart your real estate journey with a bang! Send me a direct message for a personalized consultation.

Jason Streich
Greater Calgary Real Estate
(403) 807-2204
jason@jasonstreich.com

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Posted in Housing Market Update
Interest Rates | A Historical Perspective

Interest rates have always fluctuated, but on average have hovered in the 5-10% range for the past three decades. And industry experts believe rates will potentially fall to the low 6 percent range by the end of 2024.

Connect with me for an in-depth perspective if you’re contemplating buying or selling your home.

Jason Streich
Greater Calgary Real Estate
(403) 807-2204
jason@jasonstreich.com

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