Re/Max sees Real Estate Rebound in Edmonton

[Ally]

EDMONTON — The Edmonton resale homes market set a new June record and recorded the third best month in Multiple Listing Service history. But average prices, although also rebounding, are still down year over year, Re/Max reported Monday.

A total of 2,552 homes sold in June, up 15.8 per cent year over year.

The previous buyer`s market in Edmonton has become more balanced, with a slow return to more traditional inventory levels, Re/Max said.

And we can expect a more stable environment going forward.

"The frenzied climate of previous upswings will be conspicuously absent. While multiple offers have re-emerged —particularly in the $300,000 to $450,000 price point — they will continue to be the exception rather than the rule, driving sales prices close to, but not typically over, asking price."

Demand is expected to remain strong, bolstered by looming interest rate hikes and glimmers of positive news on the economic horizon, the company added.

Read the full article here.

 

[Mike Milovick]

Not to be a pessimist, but google Remax Canadian Real Estate Predictions 2007, and Remax Canadian Real Estate Predictions 2008 and tell me what you find out.

I`m not slamming Remax. If no one can accurately predict the price of oil two months from now, or even interest rates, how can a group predict real estate values in the future?

I would flocus less on predictions and stick to buying cash flow postive properties.

Just my thoughts.

QUOTE (Ally @ Jul 14 2009, 11:44 AM) EDMONTON — The Edmonton resale homes market set a new June record and recorded the third best month in Multiple Listing Service history. But average prices, although also rebounding, are still down year over year, Re/Max reported Monday.

A total of 2,552 homes sold in June, up 15.8 per cent year over year.

The previous buyer`s market in Edmonton has become more balanced, with a slow return to more traditional inventory levels, Re/Max said.

And we can expect a more stable environment going forward.

"The frenzied climate of previous upswings will be conspicuously absent. While multiple offers have re-emerged —particularly in the $300,000 to $450,000 price point — they will continue to be the exception rather than the rule, driving sales prices close to, but not typically over, asking price."

Demand is expected to remain strong, bolstered by looming interest rate hikes and glimmers of positive news on the economic horizon, the company added.

Read the full article here.