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Market moves toward balanced conditions

Blog by Art Lee | August 5th, 2014

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 Well it's August already, where has the time gone? Seems like just yesterday I was brushing snow off my car and I'm already dreading the snow around the corner. Just a few more months of sunshine and dry pavement, enjoy it while it lasts. 

 On a brighter note, the Calgary regional housing market stats are out and they're calling for a more balanced market heading in to 2015. More listings have eased the upward pressure from buyers flooding into the market. With current interest rates, it's definitely attractive to purchase rather than rent, but some feel we're going to see a "soft landing". Buyers and sellers are more educated than before, but emotions still play a huge part in their decision making. Do your research and consult professionals is my advice to all buyers and sellers. What will happen next, no one knows...but if you follow the market fundamentals that drive the market, you will be better prepared. Watch for pipeline project approvals, job creation/layoffs, GDP growth, population growth, office vacancies and commercial real estate sales. These are all signals of what is to come...

Investors, if people are not buying...yes you guessed it, they're renting! Food for thought.

For the full stats package, please click here:  Aug 1, 2014 CREB stats package