YOUR CANADIAN MORTGAGE BROKER

July 7, 2010

Calgary house prices hold study, but small decline likely: survey

Calgary house prices remained strong in the second quarter compared to the same period in 2009, but they are expected to decrease slightly over the remainder of the year, according to the Royal LePage House Price Survey released today.

“Overall, prices are still higher than they were a year ago,” said Ted Zaharko, broker and owner of Royal LePage Foothills. “But as the second quarter ends, we are seeing the market lean in favour of the buyer.”

The report says that sales in the Calgary market have decreased and inventory levels have risent slowly compared with this time last year, but the prices still remain higher than a year ago in most housing categories except standard condominiums, which saw a 0.2 per cent decline to $251,756 due to its large inventory levels. Standard two-storey homes posted the largest year-over-year price increases, rising 5.5 per cent to $422,078. Prices for detached bungalows increased 4.6 per cent compared with the second quarter of 2009 to $419,978.


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BREAKING NEWS

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September 1, 2010
Not that there are a lot of people buying houses these days, but the answer to the age-old question of whether to go long or short on your mortgage is unclear yet again.
August 25, 2010

CALGARY - It's taking Calgarians longer now to sell their homes on the MLS market.

According to preliminary unofficial data on the website of realtor Mike Fotiou, of First Place Realty, so far this month up until Sunday the average days on the market for a single-family home to sell was 52 while it was 53 days for condominiums.

August 17, 2010
Five of Canada's major banks reduced many of their posted mortgage rates by one-tenth of a percentage point, effective today.
August 11, 2010
When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest.

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