Calgary Real Estate Today...

 B's Blog

Cogent, insightful, interesting, and informative, Bryan (or "B" as he's called by his friends) regularly posts his thoughts on the Calgary Real Estate market. Check back from time to time or... sign up for an e-mail alert.

Mar. 1, 2012

Since "the peak" in 2007, Calgary housing prices remain (more or less) down about 10% and, in truth, many areas are more like 15% down and sales? Well they have also been down. BIG TIME down.

However, if you can trust anything it is that the Calgary Market never stays still for long, and after 4+ years of stagnation we are begining to feel just the slightest hint of a rebound, however slight. So, while it may just be the begining of our traditional spring market we also believe that the fundamentals of job and population growth are both on the horizon and with an employment rate of 95 percent, even the slightest positive movement will likely have an impact on both sales activity and prices.

As for mortgage rates, and given the fact that we've called the bottom at least twice in the last few years we hesitate to make fools of ourselves again so we'll just comment by saying that with 5 year fixed rates at just over 3%, just how much lower could one expect them to go? Our belief is: Not much!