CALGARY — Bob Jablonski will take over as president of the Calgary Real Estate Board on Wednesday when the organization officially releases its forecast for the 2012 housing market.

Jablonski, who replaces outgoing president Sano Stante, comes in after Calgary’s resale MLS market showed some signs of rebounding in 2011.

Single-family home sales of 13,186 were 9.06 per cent higher than the previous year while condominium sales rose by 3.98 per cent to 5,382.

Jablonski, who has been a realtor since October 1987, was interviewed Friday by the Herald. Because of the upcoming forecast, he couldn’t offer specific predictions about the 2012 market. Here is an edited version of the conversation:

Question: How would you describe the Calgary real estate market in 2011?

Answer: “It was becoming more of a stable market towards the end of the year. The pricing was more stable. A more relaxed market.”

Question: What do you mean by that?

Answer: “Well, there wasn’t a lot of up and down. There was some up and down to it but basically it flattened out at the end of the year.”

Question: What were the main factors influencing the market?

Answer: “I think the consumers started seeing more confidence in the economy overall and they got off the fence and started buying properties. Well-priced listings were selling. There’s always a market for well-priced listings. So people are moving on those.”

Question: Looking at some of the economic factors, what would be the key ones that would signify a change up or down in the real estate market?

Answer: “I think the affordability in Calgary has demonstrated itself. There’s a lot more product that people can afford to buy with the low interest rates. They felt more comfortable in their jobs and security and the indications are that there’s job stability, there’s in-migration coming into the city and the economy is getting better. So there’s no reason not to buy.”

Question: The Bank of Montreal has lowered its five-year fixed mortgage rate to a record low of 2.99 per cent. What impact will this have on the market?

Answer: “It’s going to help the market. Again, it’s showing signs of stability. Interest rates haven’t changed for a number of years and the prediction is they won’t change for awhile. So people are now more relaxed in the fact that the bottom is not falling out. The world hasn’t gone in the tank. We’re OK. And Calgary’s fine.”

Question: Where do you see the market in Calgary headed this year?

Answer: “My personal opinion is the market will be a good market. It will be an improvement over 2011 and it will be a gradual increase in both sales activity and in pricing.”

Question: Why do you foresee that?

Answer: “Again, because the consumer is feeling confidence in the market in Calgary. All the indications are that people have jobs to go to. Deerfoot’s packed every morning. People going to and from work. There’s lot of activity downtown in the construction. The Bow (tower) is one example. And the interest rates are low and the affordability is there.”

Question: Recently, several economic reports have come out talking about a possible housing bubble in the country. What are your thoughts on that?

Answer: “I can only talk about the Calgary market. I can’t talk about the national market ... In my view, it’s a stable market in Calgary. It’s going to improve. The activity is going to improve. I’m looking forward to it. I think it’s going to be a really good year.”

Question: Do you think in some ways Calgary may be a bit of an anomaly compared with the rest of Canada when it comes to the housing market?

Answer: “I think Calgary is a vibrant city. I think Calgary is a different market than the rest of Canada. All indications are that we’re improving and we’ll improve even more in 2012.”

Question: Are there any trends you see in the local market?

Answer: “I think there’s good activity in both the luxury market as well as the first-time homebuyer market and the condo market is improving.”

mtoneguzzi@calgaryherald.com
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