Weekly Market Update, August 2/19

Nobody is buying now because they're waiting for the free government money that's coming in September.

As a landlord all i can hope for at this point is for listings to continue going down.

Hmmmmm.... single-family home sales were up 13% over last year in July and condo sales were up 3%... Month over month sales were way up which is not typical in July - https://www.livrealestate.ca/blog/2019/08/real-estate-market-picks-up-in-edmonton-in-july.html

When I asked our agents last month, none of them had clients that were waiting for the home buying incentives that are set to start in September. I'm not sure there are that many people waiting, but that remains to be seen.

That's because the mortgage posted qualifying rate came down a bit in the last while. And possibly when the new rule about the borrowed down payment takes effect it might increase demand also a bit. so the little pick up in demand must be Canada wide and not only in Edmonton. The real fundamentals though, in Edmonton for prices to go up are not back yet completely.

The market is red hot in Edmonton, with sales surging and little supply:

https://edmontonjournal.com/business/real-estate/july-2019-housing-numbers

Just checked and it isn't April 1. That makes you the fool!

Currently the poor retirees are flooding into PEI. We see home prices rising sharply there. Eventually the rich retirees will move to Alberta rather than stay in B.C. or Ontario and pay a fortune in extra taxes. Like Texas if you're always inside it doesn't matter if its hot or cold.