With the migration to Pillar 9™, some updates are being made to the way we present monthly housing statistics. Here are some highlights of what will take effect next Tuesday, Aug. 4.
Active Listings
Active listings will now include pending sales. This change was made for the following reasons:
- Consistency: Across Canada, pending activity is included in the active numbers.
- We would not be able to go back historically to adjust the active listings to exclude pending listings.
- After completing testing of the inclusion of pending sales in the active listings number, we found it does not result in any significant variation to the trends in the statistics.
Attached Category
The attached category will be retired and replaced with semi-detached and row to be consistent with Pillar 9™.
Community Summary Stats
The community summary document will be refreshed, keeping much of the detail that was in there before, but adding a two-page summary that highlights the activity for the current month.
This update was in response to a request for a more visual, shorter document. Now, members have the choice to use the entire document or simply the first two pages.
Daily Housing Summary
Pending sales will be removed from the daily housing summary due to the inconsistency of use and the inability to compare historical figures. The analysis of housing statistics is centered on final sales numbers, which will still be provided to both members and the public in the daily housing summary table.
New: Monthly Stats Summary for City of Calgary
The monthly stats summary for the City of Calgary will be a more visual three-page document that highlights key results for the month.
For now, we will keep the detailed Calgary stats package, but eventually this document will either be retired or available for CREB® members only.
Regional Monthly Stats
As of Aug. 4, the monthly commentary currently provided in the regional summary package will no longer be available.
For the most part, the monthly stats insights on Airdrie, Okotoks and Cochrane are limited due to their smaller sample size. While members will still have access to the monthly reports for each of these towns, an analysis will now be provided in the quarterly report, where our chief economist can better speak to trends in the area.
The regional package will also be adjusted to focus on the summary statistics activity in some of the largest towns/cities in our jurisdiction including Airdrie, Cochrane, Okotoks, Strathmore, Chestermere, High River and Canmore. This information will still be made available on creb.com and details for each region can be found in the individual regional reports for members.
CREB.com
There will be a few changes seen in the housing statistics section of CREB.com to accommodate changes to the statistics packages and the location of some of our public reports.
Additional Insight
Please note that with the migration to Pillar 9™, our numbers have changed slightly. This is related to the inclusion of some non-CREB® member activity that is now included in our statistics.
All of our statistics have been updated historically, but members who keep their own historical records may want to refresh their historical data as well.
To view the latest housing data and statistics, please visit CREB®Link.
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