FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario September 7, 2022

The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is also continuing its policy of quantitative tightening.

The global and Canadian economies are evolving broadly in line with the Bank’s July projection. The effects of COVID-19 outbreaks, ongoing supply disruptions, and the war in Ukraine continue to dampen growth and boost prices.

Global inflation remains high and measures of core inflation are moving up in most countries. In response, central banks around the world continue to tighten monetary policy. Economic activity in the United States has moderated,…

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City of Calgary, September 1, 2022 – August sales activity was comparable to the strong levels recorded last year and well above long-term trends for the month.

While sales have remained relatively strong, there continues to be a shift towards more affordable options as the year-over-year pullback in detached sales was nearly matched by gains for multi-family product types.

“While higher lending rates have slowed activity in the detached market, we are still seeing homebuyers shift to more affordable options which is keeping sales activity relatively strong,” said CREB® Chief Economist Ann-Marie Lurie. “This makes Calgary different than some of the larger cities in the country which have recorded significant pullbacks in sales.”

At the same time, new…

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Moving to a new home and new school can be upsetting for some children. Helping them to prepare for the move will make the adjustment less stressful.

· Get them excited about moving. Show them pictures of their new room, and give them ideas of where things can go. If you are painting, let them help choose the colour, and give them some freedom to decorate.

· Be prepared that the first night sleeping in a new place might end up becoming a sleepless night. Reassure your child that it takes time to get used to a new home.

· Take a tour of the school. Helping them to become familiar with what the school looks like and how to get to their classroom, the lunch room, etc., will ease any stress they might have the first day they attend.

· Encourage…

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Imagine you’re shopping for a car. You find one that’s a suitable model, a recent year, and hasn’t been driven a lot. The price is right, too. But, there’s a caveat. The paint is worn off in several places. The driver’s seat upholstery is torn and requires repair. And, the tires needed to be replaced… a long time ago. Would you still buy it?

You might. However, unless you enjoy fixing up cars, you’d probably hesitate to make the purchase. After all, in addition to seeing the car itself, you’re noticing the work that needs to be done to fix it. The same holds true when selling your home.

The more “move-in” ready you make the property the more likely buyers are to become interested in buying it. Like when viewing a car, you want buyers to focus on…

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FOR IMMEDIATE RELEASE

CREB®'s Q2 2022 Housing Market Report

City of Calgary, August 16, 2022 – Within the city of Calgary, housing sales totalled 18,694 units in the first half of 2022, with sales in the second quarter nearly matching the record high pace set in the first quarter of the year.

“This doesn’t come as a surprise as consumers were eager to get into the market ahead of rate gains while they still had low pre-approval rates,” said CREB® Chief Economist Ann-Marie Lurie.

At the same time, new listings struggled to keep pace leaving inventories relatively low and the months of supply relatively tight. This resulted in prices trending up in the…

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