Weekly Market Update Mar. 19/21

SFH prices leveling off...

Sales are increasing due to mortgage 120 day preapprovals as the 5 year bond rate spikes in Canada. The buyers know its now or never. As the U.S. dollar falls interest rates can only go higher even in a dead or moribund economy.

Wow! We keep heading higher and higher every week now for SFD! And those sales number! Wooh!

I agree. Panic buying because they're going to lose their 1.5% mortgage rate if they don't buy something quick.

Maybe I can finally firesale my rental condo in Callingwood in this market.

I wonder how many other Edmonton condo owners are thinking about getting rid of a condo and just waiting for the right time.

Hi Sara: - Is this really the March 26 report?

The March 26 stats are here: https://www.livrealestate.ca/blog/2021/03/weekly-market-update-mar-26-21.html

The Bank of Canada tapers bond purchases on the open market the first G7 country to do so. I know the reason, everyone knows the reason but I can't state the reason. This means long term rates will rise in Canada. Even if this is an election year something will be done about the Canadian housing market in the upcoming budget speech. Renters will have to move from one province to another province or leave the country due to lack of funds for 50 to 100 percent rent increases.

Thanks for the laugh Tony, That is the funniest thing I’ve read in a long time. 50% to 100% rent increase?? Does that come with 300$/bbl oil?? I’ve rented for a decade in Alberta and never paid a rent increase. Sure I’m paying more but renting a much nicer place. Renters don’t care about an owners cost of capital or ROI. Even one of my old landlords has figured that out and is trying to sell their lowrise apartment building with 15% vacancy at the moment.