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Archive for December, 2012

How hot is the Alberta Real Estate Market; time to invest, yet again…

CALGARY — Alberta will lead the country this year and in 2013 in the pace of  growth in the resale housing market, according to a new forecast by the Canadian  Real Estate Association.

The national association of realtors said Monday that Alberta MLS sales this  year will finish up 13.1 per cent from last year to 60,800 transactions and  sales will lead the country next year as well with 1.3 per cent growth to  61,600.

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The Real Estate Investment Network in Canada is “hot” on Calgary’s potential  and has ranked it the top investment city in Canada for 2013 to 2016, said  Melanie Reuter, director of research for the organization.

“This ranking came as a result of extensive research into the underlying  economic fundamentals driving Calgary’s economy as well as the current housing  market’s response to these fundamentals,” she said. “The job market is strong  and is poised to lead the country in job and population growth. Immigration from  other parts of Canada as well as abroad is putting a steep downward pressure on  vacancy rates and a strong upward movement on rents. This pressure is not  predicted to ease significantly in the coming years.

“The high average-weekly-earnings in the city mean more disposable income in  this PST-free province, which is creating a country leading consumer confidence  level. This is creating further stimulation of the economy through consumer  spending, which in turn brings increased employers, people, and demand for  housing.”

On Monday, CREA said the average sale price in Alberta is expected to rise by  2.7 per cent this year to $363,100 and by another 2.3 per cent in 2013 to  $371,300.

In November, Calgary MLS sales of 1,831 were up 10.6 per cent compared with  last year while on the national level sales dipped by 11.9 per cent to  30,573.

The average sale price in Calgary rose by 3.8 per cent to $413,921 but fell  by 0.8 per cent across the country to $356,687.

In Alberta, sales increased by 3.2 per cent to 4,034 transactions and the  average price was up 4.3 per cent to $365,999.

“National sales activity has remained fairly steady at lower levels since  mortgage rules were changed earlier this year, but that stability masks some  real differences in trends among local housing markets,” said Wayne Moen, CREA’s  president.

CREA on Monday also released its MLS Home Price Index of seven major Canadian  markets. Regina’s annual price growth of 11.58 per cent led the nation followed  by Calgary at 7.13 per cent.

Investors alert: with 10% downpayment you can buy as many income properties as many you want. Find out how we get you low interest mortgages to invest.

Read more:  http://www.calgaryherald.com/homes/Alberta+resale+housing+market+tops+Canada+annual+sales+growth/7708791/story.html#ixzz2FXVX1zpi

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