Edmonton, July 5, 2011: Economic and other external indicators point to a strengthening of the local real estate market according to the REALTORS® Association of Edmonton.
- Statistics Canada reported that Alberta boasted the highest spike in population in the first quarter with a 0.4% increase.
- The Conference Board of Canada predicts that housing prices in Edmonton will increase from five to seven percent in the short term although local prices are currently down when compared to last year.
- Although the Bank of Canada seems reluctant to raise interest rates because of the negative impact on exports, CMHC reports that Canadians are budgeting for an interest rate hike.
- While housing prices nationally are up by 8.6% (May figures) Edmonton prices are tracking predictably in a stable market.
- CIBC is of the opinion that Alberta home prices are over-valued by 17% yet RBC names Edmonton amongst the most affordable major metro markets in Canada.
- A report by Peters and Co. forecast that $180 billion will be spent on new oilsands projects in the next decade with current oilsands operations and maintenance adding another $30 billion a year.
How Realtors Help..... Call Amber 780-906-0693 or email amber.prue@gmx.com
