Most of the big banks in Canada raised mortgage rates over the past few days, delivering another hit to our slow real estate market. While the increase might cause a small short-term surge in activity, as buyers look to take advantage of any rate holds they may have, the overall effect will likely decrease demand even further in the months to come. Our initial look at the real estate market in Edmonton showed lower than normal sales, and falling average prices. The REALTORS® Association of Edmonton has now released their monthly report on the Greater Edmonton area market showing an increase in year-over-year sales, which suggests there was an increase in sales in the areas around Edmonton (since my preliminary report only includes Edmonton sales). Here's our snapshot of the real estate market in the Greater Edmonton Area in April:
Hi Sara,Posted by garry on Tuesday, May 1st, 2018 at 5:25am
Do you think the cooler weather seen in early April had any impact on April home/condo sales?
I don't, we had a full-blown snow storm last year on April 15, overall I think the weather had very little to do with the market.Posted by Sara MacLennan on Tuesday, May 1st, 2018 at 9:00pm
Great info, thanks Sara!Posted by Trev on Thursday, May 3rd, 2018 at 3:11am
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