As we progress through March, there are signs appearing that the real estate market might be starting to move towards a balanced market. Both the median and the average sale prices in Calgary have increased marginally. In addition, the number of sales have increased thereby increasing the inventory absorption rate. With interest rates at an all time low and fresh inventory appearing daily, ...
The Bank of Canada dropped its main lending rate to an all time historical low of 0.5%! It is anticipated that the big banks will follow with their lending rates to try and stimulate consumer spending. This may help give a little more confidence to home buyers and a bit of relief for current home sellers.
The Calgary Real Estate Board recently held its 2009 Forecast Breakfast. The incoming President announced that CREB forecast that the total number of listings for 2009 will remain the same as for 2008 and 2007 and that the number of sales (not prices) will increase by about 10% for 2009. This indicates that buyers still have some time to look around but that perhaps the market may start to ...
I have provided you with a forecast podcast from CREA as to what they envision for the market going into 2009.
I have added new functionality to be able to provide you with up-to-date information from industry experts. Please watch the video podcast from Cal Lindberg on my Home Page. I will be updating this area on a regular basis.