Wednesday, May 02, 2007

Market To Cool

Wherever Calgary goes Edmonton is sure to follow. As the Calgary market cooled a little in the first quarter of 2007 everyone is nervously waiting for a market drop.

The rock solid economic fundamentals of both markets will not allow a big price reversal but a little cooling of the market is nothing to be afraid of.

In fact we welcome it.

Multiple offers on properties that often go unconditional (not a good thing), rapidly raising housing prices and little product have made picking up properties really hard in the current market. We need the market to slow down a little so we can position ourselves for the next big wave. Just remember cool doesn't mean bust.