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5 YearFixed (promo)2.29%-*call for restrictions
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TermTypeRate
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4 YearFixed2.39%**High Ratio Only
5 YearFixed2.29%**restricted, call for details
6 YearFixed2.99%
7 YearFixed2.99%
10 YearFixed3.54%

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January Calgary Real Estate Board Stats

February 14, 2015 | Posted by Nathan Zacharias | Tagged in

Calgary January 2015 Monthly Housing Statistics

A quick read of  the January Calgary Real Estate Board Stats would suggest that inventory is up, sales are down and the Calgary Real Estate Market might be on the verge of some kind of correction. With all the doom and gloom in the news it is no wonder that buyers might be a little bit cautious, and, with the huge run Calgary has seen in the last few years sellers likely feel they are sitting on a gold mine! Is it a balanced market, or are things starting to shift towards the buyer?

Typically in Calgary we see a bit of a hold-out period where supply starts to stack up but prices hold steady, steady that is until sellers can’t hold out any longer and start reducing their prices to stimulate a sale. Is this where we are now? As announcements of job cuts continue to hit the headlines and oil prices move around levels lower than what Albertans would like to see I think cautiousness is a word that would best describe the mentality of many real estate stakeholders. This would include buyers, sellers, banks and other lenders, tenants and landlords. Everyone is waiting to see what happens. While sellers ponder an adjustment to their list price, or when to list, buyers hold tight waiting for a dip, and lenders ponder the risk and loan to values they are willing to take on.

It will no doubt be in interesting time for everyone with real estate in their portfolio’s but I personally don’t think we’ll know fore sure what direction things are moving and how fast until after the famed spring market. Those who hold out for this historically popular time to sell and fail to get their homes sold will likely be faced with large price reductions heading into the slow summer months and this will likely be when we find out how much, if any, our values might sway. Only time will tell, but until it does the Calgary Real Estate Board Stats do a great job in proving valuable information for us to try and make sense of the future!

 

Author:

Nathan Zacharias B.Comm.

Associate Broker, Real Estate Professionals Inc.