Hi Sara - thank you for these weekly reports. Just one thing. I see the number of listing graph comparing multiple year is misssing.Posted by Musse on Thursday, August 30th, 2018 at 9:40pm
Foreclosures are starting to build in the condo market.Posted by Tony on Thursday, August 30th, 2018 at 10:01pm
Tony, do you have any sources regarding the foreclosure data?Posted by Matt on Thursday, August 30th, 2018 at 11:15pm
That's interesting Tony, but not surprising. What is your source? The same must be true for SFH as well?Posted by Rick on Friday, August 31st, 2018 at 2:56am
Well so much for a recovery now that Trans Mountain Pipeline is in limbo. I would imagine house prices remain flat at best for sometime. Condo market....never been a fan of that market (just a glorified apartment with maintenance fees) plus it's rare that they are owner occupied to begin with.
Buying a home was once a great thing to do. Now I can't even think of wanting to own one with all the bills, taxes, upkeep and mortgage payments.
Only good thing about all this is my rent won't be going up anytime soon as there are so many empty units on the market.
Well let's hope by 2025 things turn around.
I don't always include the inventory chart... tomorrow is the first of the month so I'll have a more in-depth monthly report then.
It is Sept now. Too many open houses. This scares the hell out of me since it is a sign of price drop. Is the pipeline the source?Posted by Jon on Friday, August 31st, 2018 at 5:31am
The source is my memory, I remember every listing on mls for Edmonton so when I read another "as is where is" I add one to the running count.Posted by Tony on Saturday, September 1st, 2018 at 7:30am
You have no clue Tony. I just bought a "as is where is" property and like many others I have seen gone are NOT foreclosure. These are mostly old/tear down that are sold as lot value and are snatched by builders.Posted by a common guy on Tuesday, September 4th, 2018 at 5:36am
Condo construction slowing in Edmonton.
It's about time, as the market is flooded and prices are in the dumps.
Construction of TMX will start again within 6 months... the feds won't allow it to fail, it's too politically hot.
Trump needs a NAFTA win too. I wager we'll see that come to a close in the next month.
The economy has some steam...
Greg, I hope you are right. I am planning to buy a condominium, but not sure if I should do it in the Fall. The market indicators point to lower prices. But, how for how long? Any suggestion?Posted by Allan on Wednesday, September 5th, 2018 at 5:19am