Good morning Edmonton! Today is definitely a good morning because we’re having our first Real Estate Week Recap!
So many great things are happening in the real estate industry so it is but appropriate that we monitor and appreciate these things, agree?
Three great news caught our attention this week from CBC News, CREA and Edmonton Journal. All of it points toward the steady growth on the real estate industry, not just Edmonton but around the country.
RISING HOME PRICES
CBC News published an article on 14 April entitled, “House prices resume climb in hot spring selling season”. The article reports that according to Teranet, “Canadian resale home prices were up 4.7 per cent across Canada in March”.
Courtesy of CBC News
It’s been apparent that home buying activity across Canada is being fueled by cheap mortgage rates with BMO and TD Bank offering 2.79% for fixed five-year rate.
Team Leading Edge is in partnership with Edmonton’s leading mortgage brokers, you can check them all here.
FALLING MORTGAGE RATES
The Canadian Real Estate Association also sees the rates as the motivating factor for home buyers, with the CREA President saying, “Low mortgage interest rates are good news for affordability as we head into the spring home buying season,” he also adds that “This spring should see buyers coming off the sidelines in places where winter was anything but mild. Like the weather, all real estate is local and nobody knows your real estate market better than REALTORS®, who remain your best source for information about sales and listings where you currently live or might like to in the future.”
Based from the CREA report, March sales have risen as compared to the previous month in almost 2/3 of all local markets. The city of Edmonton together with Greater Vancouver, Fraser Valley and Calgary leads the rise in sales.
Read complete report here.
Unless you have been living under the rock, you might have already noticed by now the growing number of cranes popping up in Downtown Edmonton.
Edmonton Journal published an article last Wednesday entitled “Cranes crowd downtown skyline as boom grows” that points toward the great effect of the correlation between “proactive decisions made by not only city council but developers and government at all levels.”
According to the Edmonton Journal report, Paul Verhesen, president and CEO of Clark Builders, said he’s never seen as many cranes in a single point in time. He also adds that “This has got to be record-setting by any stretch and there’s arguably a few more to come,”.
Cheaper credit together with abundant supply provides a robust and healthy real estate industry that both home buyers and home sellers could thrive in.
Team Leading Edge have provided many people in the city of Edmonton with high-speed access to the real estate market, now is the time for you to also have the similar privilege. Access all new homes for sale in Edmonton through our new and improved Edmonton MLS listings.
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