According to a report released by the Canadian Real Estate Association the average selling price of a resale home increased by 19.78% to $719,102.

While in Alberta we saw the average resale home increase by 6.35% to $432,825. That makes us a great bargain in comparison to the rest of the country.

The increase in average selling prices has been fuelled by our current low mortgage rates making homes affordable. The real concern I have is that almost everyone is of the consensus that mortgage rates will be rising in the new year which will make home buying more difficult and buyer's would not be able to qualify for the same amount reducing the purchasing power significantly.

If you are thinking of buying a home you will want to do it sooner than later.

Start your search today at https://www.Edmonton-Real-Estate.com