Friday, November 2, 2007

CREB: The glass is full

The Calgary Real Estate Board reports on October sales. Their interpretation of the monthly 4.3% increase is quite the stretch.
“As we move through the fourth quarter of 2007, we are seeing a normal amount of market activity. The good news is that our October sales have increased somewhat over September sales, showing consumer confidence in the real estate market as well as in Calgary’s over all strong economy,” remarked CREB® President Ron Stanners. “This is also a reflection of Albertan’s belief in the strength of our energy industry. With the broad selection of properties available today, buyers can select their dream home through the MLS®. Home owners, by pricing their homes competitively with the guidance of their REALTOR®, can anticipate a quicker sale,” Stanners continued.
However sales are down 9.1% when compared to last October. Those October 2006 sales were down 19.7% when compared to 2005.

Here is the data:

Oct 2007
SFH: 1113
Condo: 501
Total: 1614
MOM: 4.3%
YOY: -9.1%

Sept 2007
SFH: 1064
Condo: 483
Total: 1547

Oct 2006
SFH: 1241*
Condo: 535*
Total: 1776
YOY: -19.7%

Oct 2005
SFH: 1512
Condo: 699
Total: 2211

*These number in the October 2006 under 'City' report were 1245 and 537. The 2005 stats are from this report as well.

Update: The Balanced Market label is still outside the range as covered in an earlier post.

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