Bank of Canada – held prime at 2.25 yesterday – great news for clients with variable minus rate. It is expected that Bank of Canada will hold that rate until the end of the 2nd quarter 2010

5 year fixed rate has moved up slightly – still an excellent rate.

Information received since the Bank’s April Monetary Policy Report (MPR) is broadly consistent with the Bank’s medium-term outlook for output and inflation in Canada. The economy is undergoing major restructuring in a number of sectors. The already significant output gap will continue to widen through the third quarter, putting downward p! ressure on inflation. The Bank continues to expect that the gl! obal and Canadian recoveries will be more muted than usual.

In recent weeks, financial conditions and commodity prices have improved significantly, and consumer and business confidence have recovered modestly. If the unprecedentedly rapid rise in the Canadian dollar (which reflects a combination of higher commodity prices and generalized weakness in the U.S. currency) proves persistent, it could fully offset these positive factors.

The outlook is subject to considerable uncertainty. While the underlying macroeconomic risks are roughly balanced, the Bank judges that, as a consequence of operating at the effective lower bound, the overall risks to its inflation projection remain tilted slig! htly to the downside.

Conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010 in order to achieve the inflation target.

The Bank retains considerable flexibility in the conduct of monetary policy at low interest rates, consistent with the framework outlined in the April MPR.

Information note:

The next scheduled date for announcing the overnight rate target is 21 July 2009. A full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the MPR on 23 July 2009.

Real estate marketing should involve Cross-Channel Marketing. For maximum online exposure and lead generation, strive to combine as many online and offline real estate marketing channels as possible, with the focus being your website.

Articles, press releases, twitters, emails, videos, real estate postcards, blogs, viral — if used properly, all of these things can drive traffic to your website. But then what?

From a marketing standpoint, lead generation should be one of your website’s primary objectives. You can drive traffic to a website from multiple channels both online and off, but at some point you have to capitalize on that traffic. Website traffic, by itself, will not grow your business. You have to initiate contact in order to cultivate a business relationship. Your website should accomplish this.

Think of your other real estate marketing channels as fingers or signs pointing toward your website. Sure, any one of these channels could generate new business on its own. But more often than not, people will surf on to your website to learn more. This is a good thing, as long as your website is doing its job by engaging, persuading, and motivating people to a “Call to action”.

For more information: www.internetbrokers.ca

Calgary, January 5, 2010 – The Calgary housing market continues to show signs of a sustained recovery according to figures released today by the Calgary Real Estate Board (CREB®).

The number of single family homes sold in December 2009 in the city of Calgary was up 78 per cent from the same time a year ago, while condominiums sales saw an increase of 66 per cent from the same time a year ago.

“What a difference a year makes. Undoubtedly the recovery in Calgary’s housing market came sooner than expected this past year,” says Bonnie Wegerich, president of CREB®. “Pent up demand by first time buyers, record low mortgage rates and improved affordability have helped bolster the Calgary market in 2009.”

December 2009 saw 799 single family homes sold in the city of Calgary. This is a decrease of 27 per cent from 1,095 sales in November 2009. In December 2008, single family home sales totaled 449. The number of condominium sales for the month of December 2009 was 341. This was a decrease of 32 per cent from the 504 condominium transactions recorded in November 2009. In December 2008, condominium sales were 205.

“The same time last year the cards were stacked in favour of the buyer, but this month sales once again show Calgary has returned to a balanced market,” says Wegerich. “While our sales did taper off slightly in December, as expected for this time of year, home buying activity in Calgary indicates we are in a sustained recovery.”

The average price of a single family home in the city of Calgary in December 2009 was $451,349, showing a decrease of 3 per cent from November 2009, when the average price was $464,444, and showing an increase of 8 per cent from December 2008, when the average price was $417,398. The average price of a condominium in the city of Calgary was $288,640, showing a 2 per cent decrease from November 2009, when the average price was $294,264 and a 5 per cent increase over last year, when the average price was $274,919. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

The median price of a single family home in the city of Calgary for December 2009 was $401,000, showing a decrease of 2 per cent was $408,000, and up 6 per cent from December 2008, when the median price was $380,000. The median price of a condominium in December 2009 was $265,000, showing virtually no change from November 2009, when the median was $264,900, and up 4 per cent from December 2008, when the median price was $254,000.

All city of Calgary MLS® statistics include properties listed and sold only within Calgary’s city limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

Single family listings in the city of Calgary added for the month of December totaled 806, a decrease of 41 per cent from November 2009 when 1,365 new listings were added, and showing a decrease of 4 per cent from December 2008, when 836 new listings came to the market.

Condominium new listings in the city of Calgary added for December 2009 were 444, down 37 per cent from November 2009, when the MLS® saw 705 condo listings coming to the market. This is an increase of 3 per cent from December 2008, when new condominium listings added were 431.

“Our inventory, while lower than last year, still offers a good selection for all ranges of buyers. Typically we see lower inventory at the end of the year with the listing count rising in the spring months. Our absorption rate remains under three months for single family homes, and just under four months for condos. Both are in a balanced market range,” Wegerich says.

“As we look to the year ahead, interest rates along with employment will continue to be key factors for a sustained recovery in the housing market. We expect a modest rise in interest rates by the middle of year—and this may spur some buyers to take advantage of low rates before the end of 2010,” adds Wegerich.

CREB® is a professional body of 5,393 licensed brokers and registered associates, representing 252 member offices. The board does not generate statistics or analysis of any individual member or company’s market share. All MLS® active listings for Calgary and area may be found on the board’s website at www.creb.com.