Thursday, August 23, 2007

Hills And Valleys In Real Estate

Gary Lamphier from The Edmonton Journal wrote an excellent article on the Edmonton Real Estate markets shift from overheating to normalizing, with a buyers market predicted for the next six months.

"The stats don't lie: Edmonton's once-torrid housing market is showing clear signs of cooling off, setting the stage for what some observers say could become a buyers' market over the next six months.

With Alberta's economy still red hot, oil prices remaining high, and $150 billion worth of oilsands projects, upgraders and related work in the pipeline, no one is forecasting anything like an '80s-style housing crash, of course.
In fact, quite the opposite.

According to Canada Mortgage and Housing Corp.'s latest forecast, average local MLS pricesfor all of 2007 will undoubtedly show healthy gains, even if second-half prices are basically flat."
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