Edmonton Real Estate Market Stabalizing
According to Scotia Economics, a leading economic research firm, the global real estate market is stabilizing.
Major markets, including Canada, Australia and the United States, are seeing prices level off, or even increase
in some areas. A number of factors are contributing to the good news.
Tax credits, including rumors of extending the first time home buyer credit in the US, have helped more buyers
enter the market. The Canadian market, which wasn’t hit as hard as some others, has been quick to recover.
Nationally, the average price of a home is about $312,585, up 0.5 per cent from January to August, but
there was a much larger jump in St. John’s, N.L., where the average price rose 18.1 per cent to $203,584.
There have also been substantial increases in Regina (6.4 per cent), Halifax-Dartmouth (3.5 per cent),
Winnipeg (3.5 per cent) and Ottawa (3.3 per cent).
Alberta been a bit off the pace. The Canadian Real Estate Association expects Alberta to be the only provice
to see an overall drop in prices for 2009 (4.4 percent). An interesting caveat is the fact that 2009 has seen
stronger sales in higher priced markets. This points to the face that wealthier homeowners are seeing the
opportunity in the market, and taking advantage of historically low prices and interest rates.
Considering the body of evidence it is a great time to buy a home in Edmonton Alberta.
Labor market conditions are beginning to stabilize. With all these positive signs
if you have been on the fence about buying Edmonton Real Estate, you won’t be alone
if you decide to start moving forward. As the prices bottom many people who were
waiting for the right time to buy are jumping into the market.
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