Friday, July 06, 2007

Ebb and Flow

"After 17 months of spectacular gains, Edmonton house prices fell an average of almost $9,000 in June."

Prices have really gone up and this is a welcome break. If they didn't take a break and slow down that would be scary. Hardly a falling knife with $130 Billion invested in Alberta.

The good news?

"Economist Ted Chambers at the Western Centre for Economic Research said Edmonton's immigration and employment numbers are solid, but he thinks "there's bound to be some speculative activity."

Demand remains strong, with 2,203 home sales in June. That's down from May, but up 11.7 per cent from the average of the previous 12 months.

The fallen prices reflect a fast-rising inventory of 6,367 units at the end of June, compared to 4,485 in May and 3,151 in April."

"That doesn't mean the market is glutted, it is regaining balance." - Carolyn Pratt president of the Realtors Association of Edmonton

We have investors from all over the world who see Alberta as the place to be, they understand the perfection in the economy and are investing for the long term not just from January to June.


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