Alberta: New listings dramatically outpacings sales
Marco sent in this link to a Globe and Mail story about the Alberta housing market where a flood of new listings from owners trying to cash in on high prices is shifting the dynamics of the market in Calgary and Edmonton.
In Calgary, 5,330 residences hit the market last month, an 11 per cent increase from the year before. But sales for the month fell by 11 per cent year-over-year to 1,935 units.
“Momentum is fading fast in the Alberta housing market,†said Robert Kavcic, economic analyst at BMO Capital Markets, in a research note. In September, sales in Edmonton had their sharpest decline since the early 1980s, Mr. Kavcic said.
While soaring prices are drawing sellers in droves, it also means potential buyers in Alberta are waiting or being priced out of the market.
October 19th, 2007 at 10:16 am
"…..Vancouver is no longer on the list."Hey michael. Yes you're right. I think that list was for 10 most liveable cosmopolitan cites. I think we agree Vancouver isn't really one of these. It doesn't mean Vancouver is unliveable however. Just not really "cosmopolitan".
October 18th, 2007 at 9:59 pm
Oh shit…..Vancouver is no longer on the list. Oh well when you compare it to real cities, our cold unfriendly rainy jungle of glass skyscrapers is really inferior. I've felt that in the last 15 years Vancouver has slid down tremendously. Its really all just hype with no substance.
October 18th, 2007 at 9:44 pm
YEEEEEEHAAAAWWW INTERNATIONAL HERALD TRIBUNE'S 10 MOST LIVABLE CITIES JUST RELEASED.
October 18th, 2007 at 4:56 pm
The Canadian economy is starting to slow. http://www.canada.com/victoriatimescolonist/news/business/story.html?id=e7b1c474-af9f-45a4-b52e-e96536cde3f2&k=18444
October 18th, 2007 at 4:24 pm
“Please just ignore Drama pt 2, it's just SATV again and he's as clever as he's always been.â€We won’t be hearing from SATV for a while.A very seriously deranged escapee was apprehended earlier today at a local Internet Café.
October 18th, 2007 at 3:23 pm
owg is a bear one minute, and a bull the next.What can I say – I can't decide on how to look at this situation so I am doing some fence sitting and providing observer type independent and sometimes infamatory commentary…