New Mortgage Rules Boost Real Estate Sales in Edmonton in December - UPDATED
Posted by Liv Real Estate on
The REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton real estate market today:
“2017 was a steady year for real estate in Edmonton and many of the surrounding municipalities, where sales and prices were quite stable for the majority of the year,” said Darcy Torhjelm, REALTORS® Association of Edmonton Chair. “For most of the year we continued to see home buyers take advantage of low mortgage rates and a slightly increased inventory, while sellers enjoyed solid prices for their properties.”
“Now that the holiday season is over and a new year is here, we expect listings and sales to begin to ramp up again,” said Torhjelm. “We encourage both potential buyers and sellers to talk to their local REALTOR® about their…
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The REALTORS® Association of Edmonton has released their monthly report on the Greater Edmonton real estate market for November, so I've updated our monthly report (original Edmonton stats are at the end of this post). Residential sales were up 12.42% over last November, which the Association attributes to the upcoming mortgage rule changes. While I agree the rule changes are likely part of the equation, I think rising interest rates (and expiring rate holds) are also a factor, as is the growing population, and the improving economy.
Here's our snapshot of the Greater Edmonton Real Estate market, followed by our monthly charts:
Today the REALTORS® Association of Edmonton released their monthly report on the Greater Edmonton Area real estate market in October saying:
“We continue to see stability in the all-residential average and median prices, and this stability has been primarily due to strong sales of single family homes, which are a staple of our marketplace,” explains James Mabey, Chair of the REALTORS® Association of Edmonton.
Here is our snapshot on the market in October:
For the first time in a long time, I'm seeing a lot of positive headlines related to Edmonton, and Alberta as a whole, the economy and the real estate market. I don't know about you, but I kind of forgot what that's like! Here's what people are saying...
A report released Monday by the Real Estate Investment Network named Edmonton the top spot to invest in Alberta, and one of the top 10 in Canada, saying Edmonton is poised to outperform the rest of the province for the next 5 years or so. Our stable economy, affordable housing, falling rent and rising vacancies indicate that Edmonton is in the middle of a slump, making it a good time to buy.
“The fix-and-flippers, the HGTV-watching guys, it’s not the greatest market for them, because it’s a slower…
Updated - the REALTORS® Association of Edmonton has released their monthly stats on the Greater Edmonton Real Estate Market, and the average residential sale price has reached the highest level we've seen in at least 9 years. Meanwhile, demand is normal, and supply is exceptionally high. So here's the deal... inventory is a leading indicator of prices. Earlier this year we had slightly lower inventory and slightly higher demand; prices typically rise for the first part of the year and conditions early in the year seem to have brought higher average prices than I was expecting. The opposite is now occurring, so prices could start to drop on a year over year basis, except for one foreseeable outcome; mortgage rates. Word on the street is that the Bank of…