Autumn has arrived! So has the snow, although we are not going to talk about that right now. In fact, we are going to ignore it until we are forced to face the brutal reality that summer is, in fact, over.
Right now it is time to get down to the nitty-gritty! What is happening in the real estate market? Why is it happening? How does this affect you? We are here to give you all the details so that you can continue to make informed decisions as a property owner/seller/potential buyer.
Although the end of 2013 and the start of 2014 were predicted to suffer in compared to the rest of 2013, both seasons were actually quite productive! What is the latest prediction? Things are going to continue to look up!
CREB is the Calgary Real Estate Board and is dedicated to helping you understand the market and buy/sell/maintain wisely! CREB’s chief economist, Ann-Marie Lurie, explains that due to a growth in the energy sector, Calgary is seeing more migrants as more jobs become available. She says that, “These factors, combined with rising wages and low interest rates, produced exceptional sales growth.”
As previously stated, the prediction is that the last half of 2014 will see market stability, staying strong in this new season. This is, of course, dependent on the energy sector continuing to grow and provide jobs for Calgarians. Based on recent reports, levels of employment will continue to grow. The fall is also a very popular time for relocation, so now more than ever the market will see migrants seeking homes.
Although the amount of properties on the market is not at an all time high, it is not so low as to cause problems. Overall the Calgary housing market is sitting in the perfect middle-ground where supply is meeting demand. Lurie maintains that, “Low mortgage rates and positive economic conditions will continue to support demand for this more affordable product through the remainder of the year.”
If you are not familiar with CREB, we suggest checking out their website at www.creb.com . They have information for buyers, sellers, and current home-owners with plenty of statistics, advice, and the ability to help you find a realtor best suited to you.
Of course, you needn’t look any further than Veronika Ellwand at Power Realty! Veronika has loads of experience and is eager to help you find the perfect home or sell your existing home. She would be happy to give you a more in-depth report on the market, but we hope this helps!
**Century 21 is a progressive real estate brokerage with agents that our clients have come to expect only the best from. We deliver this by understanding their goals and then adopting them as our own. With committed, experienced real estate professionals in every neighbourhood across Canada, we truly are the Local Experts**