After a brutal week of sad economic news; markets tumbling, oil tumbling below $40 US and Chinese economic woes, we felt that this was going to be a long, cold winter, despite El Nino. Certainly the gloomy news should affect the market - and it has, to an extent. This is indeed very strange times in Calgary real estate. Still seeing multiple offers in well priced homes in the under $550,000 category and those above that price stagnate. Outer NE seems unchanged and inner city lots are definitely down. Builders/developers have stopped buying except in the case of a fabulous deal. The CMHC has recently announced AT RISK cities and Calgary is NOT one of them. For once, we agree with them. There are signs everywhere people are holding back but still confident in the market in the far future. How far? Big question.