Calgary Real Estate Update Jan 2010

Affordability Drives Calgary”s Housing Market.

CREB released their monthly statistics for January 2010 yesterday with the following highlights:

  • Affordability buoyed by low interest rates will support a balanced housing market.
  • The recovery is still fragile and demand should build as the year progresses
  • First time home buyers continue to drive the recovery (homes below $400,000 will lead demand)

My take differs slightly in that I am predicting a more bumpy online blackjack recovery. Present demand is being fuelled by Buyers rushing to the market in anticipation of a rate hikes near summer 2010. One could expect the market may stall after this time when this anticipation ends and interest rates increase to more normal (still low) levels.

Currently, we are witnessing a brisk market in the mid-lower end with multiple offers becoming nearly the norm on any product that is priced properly (at market value). This may provide good opportunities if you are selling into this market and still good buying opportunities until prices come back to previous levels.

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