Sunday, April 12, 2009

Edmonton Alberta Market Update

Edmonton detached bungalows are down 11.2% in price compared to the first quarter of last year, two-storey homes down 12.6% and condos are down 13.8%.

Because Alberta was one of the first places to feel market corrections before the economic crisis could fully be appreciated, it's assumed that it will be one of the first places in Canada to stabilize. If the rest of Canada can expect their home prices to start to appreciate again in the first half of 2010, then Albertans can hope for a market upturn a little earlier than that.

As the supplies decline and people come out of a winter deep freeze, when buying interest is typically low, the market will see more activity and eventually rising prices.

Now is a good time to buy a home or investment property because you can take advantage of low interest rates and a wide selection of properties at lower prices.

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