Here is our update on the Edmonton real estate market. (Previous week’s numbers are in brackets). For the past 7 days: New Listings: 633 (543, 641, 616) # Sales: 287 (225, 309, 257) Ratio: 45% (41%, 48%, 42%) # Price Changes: 454 (366, 363, 356) Expired/Off Market Listings: 390 (157, 184, 165) Net loss/gain in listings this week: -44 (161, 148, 194, 52) Active single family home listings: 4077 (4106, 3996, 3882) Active condo listings: 2361 (2365, 2310, 2274) Homes 4-week running average: $416k ($418k, $413k, $419k) Condos 4-week running average: $220k ($222k, $221k, $215k) May the 4th be with you (tomorrow)! Funny story... years ago when our twins were born (they were supposed to be born in early May) Sheldon sent out a birth notice to all of our friends and family that "Luke and Leah" had arrived. If they were born May 4 I don't know if I would've won the naming battle with him. Anyway, our monthly report came out this week with lots of interesting information, in particular, the benchmark price trends for single-family homes, apartments and townhomes. CMHC release a report today showing 61% of Alberta's single-family and semi-detached housing inventory was in Edmonton as of February, leading them to the conclusion that Edmonton’s housing market is at a moderate degree of vulnerability, due to overbuilding. Meanwhile, in Calgary, demand for condos has increased as many young buyers have been priced out of the market by the "stress test." Have a great weekend! Posted by Liv Real Estate on
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That’s funny Tony. As long as CMHC is underwritten by taxpayers the government should ensure prudent lending. Thank you OSFI Albertan’s have high level of non-mortgage debt

Posted by Still employed on Thursday, May 2nd, 2019 at 10:14pm

Tony, of course foreign investment specially in Vancouver played a big role in the formation of the bubble but the stress test was introduced to mitigate the risk of the bubble caused by cheap and easy credit like very low interest rate, amortizations of more than 20-25 years, very low or no down payment, etc....

The stress test, although it came a bit late, was a very smart and good idea to efficiently and partially correct the problem of artificially inflated house prices. It will also help in reducing the risk to financial institutions where people's money are deposited.

The solution to affordability wouldn't be to cancel the stress test but for prices to correct which might take longer than expected.

Posted by Wally on Friday, May 3rd, 2019 at 2:53am

Surprised that that comment was allowed through Tony but at least it has allowed us to see the shallowness of your intelligence.

Posted by Stu on Saturday, May 4th, 2019 at 11:52pm

Hey All,
I've deleted a number of Tony's comments because they were racist.
@Tony - please be respectful, we appreciate the discussion and healthy debate, without the hate.

Posted by Sara MacLennan on Monday, May 6th, 2019 at 3:57am

You'll learn as I live not that far away from Milliken Mills and about 50 miles from Brampton and Mississauga. Since you live in Edmonton you don't understand what I'm telling you as the bonafide truth. Like I said you'll learn.

Posted by Tony on Friday, May 24th, 2019 at 7:50am

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