2009 SAM Award Winners

UPDATE: For the 2011 SAM Award winners click here.

UPDATE: For the 2010 SAM Award winners announced in April 2011, please click here

SAM Awards

Congratulations to Morrison Homes! For the 9th year in a row, Morrison Homes has been named the Calgary region’s top single-family home builder.

The 23rd annual SAM Awards gala, which represented homes built in 2009, was held last night and hosted by the Canadian Home Builders’ Association — Calgary Region.

Here are some of the award winners and their categories:

Single-Family Home Builder: Morrison Homes

Builder of Merit Award(top small-volume builder): Ashton Homes

Multi-family Builder of the Year: Rockford Developments Inc.

Renovator of the Year: Newcastle Homes & Renovations

Best New Community: Mahogany (Hopewell Residential Communities)

Community of the Year: Auburn Bay (Carma Developers)

You can see all the 2009 Winners below:

15 responses to “2009 SAM Award Winners

  1. As of April 17th, SFH inventory is up 8.2% year-over-year (+356 listings), while unoccupied lisings (new/vacant) are virtually unchanged with a 0.7% increase (+7 listings). Sales are also up 9.7% MTD (+66)

    Condo inventory is up 15.6% (+322) compared to April 17, 2009. However, unoccupied condo listings are up much more than SFH, with a 20.9% increase over last April (+150). Sales are up 5.4% MTD (+18)

  2. It’s looking like SFH inventory will be 5,000+ at month end. At least, it’s on pace for 5,200.

    Pending sales seem to be struggling to stay above 400.

    The last time we saw a great build up of inventory it went something like this…

    A look back at 2008:

    Jan -> Feb ~ +24%
    Feb -> Mar ~ +19%
    Mar -> Apr ~ +15%
    Apr -> May ~ +3% (finally peaking at 7,099)

    and this time we have…

    Jan -> Feb ~ +24%
    Feb -> Mar ~ +29%
    Mar -> Apr ~ +30% (estimated)

    Of course it doesn’t mean much, but if past history is a guide, we could still have 2 more months of ‘post peak inventory growth’ (assuming this month is the peak) and assuming a 5% drop for the next months thereafter it would look something like this…

    Apr -> May + ~25% , bringing us to 6,500 SFH
    May -> June + ~20%, bringing us to 7,800 SFH
    June -> July + 3%, bringing us to 8,034 SFH

    Of course that’s all just crystal ball material.

  3. Maybe it will hit a record of 10,000 SFH in the year. Month sales will also hit 3000 and the price is assumed to be stable.

  4. Mike but not mike F

    I am very closely watching the new listings coming on at lower and lower price points. Some realtors are still out to lunch that the RE situation has changed and price much too high, others are lucky to have a good realtor price their house under the curve.

    Amazingly you can now find SFH homes at 2006 (and under) prices in some areas.

    $299k and under SFH in Calgary: 366
    Cheapest SFH: $169,900 (scare warning: C3421712, C3418619)
    $149k and under condos in Calgary: 51
    Cheapest condo: $74,900

    (according to MLS, MikeF may have better stats).

    Looks like affordability will greatly approve come fall. (CREA way of saying supply will excede demand and prices will continue to drop)

  5. CM, thanks for those numbers!

    Daniel, over 3000 SFH sales in a month would be crazy busy. The highest monthly amount was in March 2007 with 2272.

    Mike, you give Realtors far too much credit. While we suggest a price range for listing, ultimately it’s the seller that decides the LP.

    I don’t think those examples you posted are indicative of improving affordability.

    The 2 Penbrooke “SFH’s” are attached, only have 1 bedroom above grade and are under 500 sq ft.

    And those condos under $90k are foreclosures with no condo board, no docs, NO RESERVE fund…

    Up until April 14th, here’s how Sales to New Inventory and Sales to Total Inventory compared to last year:

    SFH
    Sales to New
    2010: 43%
    2009: 61%

    Sales to Inv
    2010: 13%
    2009: 13%

    Condo
    Sales to New
    2010: 43%
    2009: 56%

    Sales to Inv
    2010: 12%
    2009: 11%

    So while inventory is increasing – sales to the total inventory is almost exactly the same as last year. However, it’s only a matter of time before this changes as new listings are eclipsing sales 2:1.

    If this continues, there will definitely be better examples of improving affordability for you to select from later this year.

  6. Making the rounds on the blogs today,

    http://www.cbc.ca/thecurrent/2010/04/april-19-2010.html

    ^^^ Pt 2: Housing Bubble – Danielle Park interviews CREA’s Gregory Klump.

    Klump falls apart when he has to stop reading from his script.

    Skip ahead to the best apart at minute 9:00

    Klump: “As interest rates rise, days-on-market rise, inventories rise, sellers on the other hand hold out for peak price. (And) so the spread between bid/ask prices rises, agreements aren’t reached, and as a result there is a sharp drop in the number of units sold.”

    And then Klump says, “but not a decline in pricing.”

    Makes sense!

    Then at around 11:30 you can hear him really start to stumble as the interviewer starts asking questions.

    Then Danielle is brought into the conversation at the 14 minute mark.

  7. Mike but not mike F

    Mike F “If this continues, there will definitely be better examples of improving affordability for you to select from later this year.”

    Sorry, I just illustrating low prices and got caught up in those cheapie, scarry properties. 😀

    Ok, some things I’ve seen affordability improve on:

    http://www.realtor.ca/propertyDetails.aspx?propertyId=9103635. These were coming up at $1.4 at peek, $1.2-1.3 last year.

    http://www.realtor.ca/propertyDetails.aspx?propertyId=9113513 ..ah, Gordie, I know him well. Usually too over priced, but this one has been up for almost 2 years and Gordie hates reducing prices. Save 20% off since list (Mike F, check that?)

    http://www.realtor.ca/propertyDetails.aspx?propertyId=9262637 first under $600k since, well, before 2006.

    http://www.realtor.ca/propertyDetails.aspx?propertyId=9262637 first one under the magic $300k mark since 2006 or so.

    http://www.realtor.ca/propertyDetails.aspx?propertyId=8921719 . Forest lawn. These were going in the mid $300ks in 2008. (I was looking a buying several then). Lucky I didn’t. This one is even on the “nicer part”, south of 17th.

    http://www.realtor.ca/propertyDetails.aspx?propertyId=9223101 I know in 2006 you couldn’t build it for this as we looked to build there then.

    Just a few, but as time goes on I’ll have more. This is off the top of my head, they are not the “best deals” out there, just an illustration of improving affordability*

    *Affordability milage may vary.

  8. CM, it doesn’t seem that Mr. Klump believes in price drops, just sales decline.

    Rising prices are continuing to erode affordability and for that reason sales activity is forecast to decline.” -March 2008

    Deteriorating housing affordability will reign in sales activity as the overall economy further improves and the pool of buyers who qualify for financing shrinks.” -Dec 2009

    And it’s not like he’s biased in any way 😛 :

    If we have 10-per cent-unemployment, that means 90 per cent of people are employed,” he said. “People are re-entering the market – they have the confidence to take advantage of bargain-basement prices. There’s been a release of pent-up demand, and that has a long time to play out. Prices have gone as low as they are going to go.” -Nov 2009.

    “Everyone needs to relax,” said Greg Klump, chief economist with CREA. “It’s just a normal market cycle.” -This month.

  9. Personally, I totally disagree with Greg Klump. Like, that said, “90 percent of people are employed if 10% unemployed” thing is totally not a fact. The sales reduction will directly cause the price down if the inventory is still there. Also most important thing is that most people have the space for price down.

  10. Wow – things are really slowing down this month. Seems to me the median and average should take a big hit soon as the median seems to have been in the low / mid 410’s for a while now.

    I have a hard time believing this is the effect of the new regulation or fixed rate increases. If anything, you’d think that would continue to drive prices up for a little while longer.

  11. Is it me or have listings dropped significantly over the last couple of weeks? The total active listings is about constant for the month so there clearly have been new listings to replace properties sold, it’s just that I’m not really seeing anything close to the deluge in March.

  12. C, the rate of SFH inventory increase has slowed from last month:

    March 1-19 = 23.5% increase (+742)
    April 1-19 = 15.1% increase (+615)

  13. Mike, how about the sales numbers for the same periods?

    March 1-19 = ??
    April 1-19 = ??

    Thanks.

  14. TT, I’ll have a post up shortly with the MTD numbers with year over year comparisons

  15. We’re still on pace to add 1136 SFH homes to the overall inventory total in April though.

    Compared to adding 900 to the inventory in March.

    But I guess it could just be the rate of sales has slowed.

    Maybe Mike can tell us, do you generally see more new listings at certain periods of the month? ie: the beginning, end, or is it just fairly even throughout?

Please feel free to post your comment or question

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s