This article talks about Calgary leading the pack of the four most active provinces in resale housing activity.
"A report released Tuesday by the Canadian Real Estate Association says MLS sales in the province were down 30.5 per cent compared with the first quarter of 2007, new listings increased by 36.2 per cent, total dollar volume of all transactions dropped by 26.7 per cent but the average sale price increased by 5.4 per cent to $361,544."
REM: The question is, how long will this "balanced market" and "modest price gains" last? My call is that we will pass by the "balanced market" on our destination to a buyers market.
The duration the market will hold a balance I believe is directly linked to the number of people/quasi-investors who have been holding on to hit the top of the market before selling.
There still seems to be a fair number of people I talk to who believe the market will continue on a 5% -10% gain over the next couple of years (at least in Vancouver BC). The problem with timing the top of the market is that you don't see the top until it has already passed by.
I will leave you with this Wall Street truism as a final thought: Bulls Make Money, Bears Make Money, Pigs Get Slaughtered.
Tuesday, April 29, 2008
Calgary is leading the real estate decline
Subscribe to:
Post Comments (Atom)
3 comments:
I`ve read the same article and I would agree with it in parts. The market is balanced in terms of a slowdown which haven`t occured since a long time. What concerns the Vancouver real estate market several articles declared that it`s already reached it`s peak however everybody can see that the prices have gone up again. What is a positive feature that the condominiums are getting more and more popular.
but we've come off a high as far as number of transactions, so we are returning to a normal market. there is still inmigration of 40-50,000 pr year, so i dont see prices dropping.
What is a absolute affection that the condominiums are accepting added and added popular.
Post a Comment