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Century 21 Signature Realty
#207, 2920 Calgary Trail NW, Edmonton, Alberta
P: 780-485-2100
F: 780-485-2180

My Edmonton Real Estate Blog

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Wednesday, July 7, 2010 - Edmonton house prices up despite market glut

The number of homes listed for sale in the Edmonton area is nearing record levels, while June residential sales fell 37 per cent from last year. At the same time, the average price of a single-family home rose nearly six per cent and the average price of all residences was up two per cent year-over-year, according to MLS figures released Monday by the Realtors Association of Edmonton. What gives? Association president Larry Westergard acknowledged the market was not yet responding to normal ... Full Article...

posted in News at Wed, 07 Jul 2010 01:16:03 +0000

Wednesday, June 9, 2010 - Alberta housing starts take slight dip in May

EDMONTON ? Home construction dipped in May, but it was still the 11th consecutive month of year-over-year improvements. ATB Financial senior economist Todd Hirsch said residential construction seems to be succumbing to the interest-rate increase after a few months of reasonably strong activity. "Consumer confidence may have also been shaken somewhat by a darker global economic outlook that rocked oil prices last month." With the probability of rising mortgage rates, and global turbulence ...

posted in News at Wed, 09 Jun 2010 13:39:18 +0000

Wednesday, June 2, 2010 - Bank of Canada increases overnight rate target to 1/2 per cent

OTTAWA, Ontario, June 01, 2010 ? The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal operating band of 50 basis points for the overnight rate. The global economic recovery is proceeding but is increasingly uneven across countries, with strong momentum in emerging market ... Full Article...

posted in News at Wed, 02 Jun 2010 13:13:00 +0000

Thursday, April 22, 2010 - New Mortgage Lending Guidelines for Canadians

Today will see a change in policy when it comes to lending guidelines for Canadian mortgage borrowers. The government of Canada has decided that the new rules below were necessary in order to continue to grow the economy at a steady pace without creating a mortgage or credit crisis seen elsewhere in the world.  Changes to Qualifying Interest Rate Where a mortgage borrower is applying for a variable rate mortgage term or a fixed term less than 5 years in length, they must now qualify based on ... Full Article...

posted in News at Thu, 22 Apr 2010 16:18:15 +0000

Friday, April 9, 2010 - Edmonton buyers and sellers remain optimistic

Housing figures released by the REALTORS® Association of Edmonton for March and the first quarter of 2010 show that resale housing prices are up; listings and sales are up. ?There is consumer confidence in this market and both buyers and sellers appear eager to enter the housing market,? said Larry Westergard, president of the REALTORS® Association of Edmonton. ?Prices are up about 10% from a year ago and sellers are eager to take advantage. Buyers are aware of higher mortgage rates ahead and ... Full Article...

posted in News at Fri, 09 Apr 2010 17:37:04 +0000

Tuesday, March 9, 2010 - New home construction rises in Edmonton area

Builders started three times the number of Edmonton-area homes in February as they did a year earlier ? showing just how far the housing market had fallen last year. Total housing starts in the Edmonton census metropolitan area reached 642 in February, compared with 213 in February 2009, Canada Mortgage and Housing Corp. said Monday. Last month?s building activity approached February 2008 levels when housing starts totalled 692. In the single-detached sector, builders poured foundations for 484 ... Full Article...

posted in News at Tue, 09 Mar 2010 14:19:43 +0000

Friday, March 5, 2010 - Budget 2010 - Budget Highlights

2010 Budget Highlights? $19 billion in stimulus measures ? planned spending to be cut by $17.6 billion over five years ? $53.8-billion deficit cut in half in two years ? $1 billion for training programs for workers ? $55 million for youth employment ? $40 million for older workers ? $180 million for aboriginal skills training ? Maximum length of work-sharing programs increased to 78 weeks ? $1.6 billion for employment insurance benefits ? $3.2 billion in personal income tax relief ? $4.1 ...

posted in News at Fri, 05 Mar 2010 14:53:33 +0000

Wednesday, March 3, 2010 - Stability in Edmonton Housing Market continues through February

Prices for residential property sold through the Edmonton Multiple Listing Service® changed marginally through February. Sales activity, however, was up dramatically when compared to last month or the same month last year.   The average* single family dwelling price was $369,573 for February up just 1.4% from January; 5.6% from a year ago. Condominium prices dipped 3.8% in the month from $240,686 to $231,530. Duplex and rowhouse prices were up 3.3% to $315,390. ?While prices remained stable ... Full Article...

posted in News at Wed, 03 Mar 2010 14:22:59 +0000

Monday, March 1, 2010 - Canada's economy expands five per cent in fourth quarter

Canada's economic recovery picked up speed in the final quarter of last year, growing by a better-than-expected annualized rate of five per cent, Statistics Canada reported Monday. "For a third consecutive quarter, growth in final domestic demand was led by increases in personal expenditures, government expenditures, and investment in residential structures," the federal agency said. "Export and import volumes both rose for a second consecutive quarter, with growth in exports outpacing that of ... Full Article...

posted in News at Mon, 01 Mar 2010 14:23:20 +0000

Friday, February 26, 2010 - Canada resale home price index up for 8th month

TORONTO -- Canadian home resale prices rose for an eighth straight month in December with overall prices rising to end the year at a record high, a report on Wednesday said. The Teranet-National Bank Composite House Price Index, which measures price changes for repeat sales of single-family homes in six metropolitan areas, showed overall prices up 1.2% from November. The report did not provide actual prices. Calgary, Montreal, Toronto, and Vancouver reported gains exceeding 1% in the month, ... Full Article...

posted in News at Fri, 26 Feb 2010 16:08:24 +0000

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