Where has the time gone? It has been several months since my last newsletter and even with good intentions to write each month there have always been pressing tasks making frequent calls upon my time. 2024 has been one of our busiest yet as we have helped so many buyers and sellers achieve their goals. Busy is good, however time to take a moment to reflect on what is most important in your life and give thanks for all the sacrifices made along the way.
There have been numerous news articles effecting Real Estate since my last newsletter and no doubt you have heard of some of them. Most prominent would be Bank of Canada lowering their interest rate once again and this time by a whole half point which is similar to the US. And speaking of US, now their election is over and Trump is once again President we are all wondering how that will make an impact on the Canadian economy and Real Estate. Looking at the below graph one can see Edmonton house prices have continued to steadily increase which is quite unseasonal but each uptick relates to the interest rate announcements by the bank of Canada.
As always, the biggest question we get asked at this time of year is what will house prices do this winter. Should I look at selling now when there is less competition or will next spring be better. Good questions and the answer is, depends.
That million is referring to population, not house prices. Edmonton saw a huge influx of people due to various reasons, primarily the Government’s immigration policy, but also by supporting people afflicted by world conflicts with over 100,000 newcomers joining us last year. That works out to a 10 percent increase in population in only one year. While that number is great, what is even more incredible is how the City has accommodated and absorbed this increase without any noticeably detrimental side effects. On top of that, the Edmonton economy has outpaced national trends. More than just an oil and gas town, Edmonton has a wide diversity of industries and high levels of employment. Thats good because there will be a further 100,000 in the next couple years too.
Fionna enjoyed going trick or treat for Halloween but she enjoyed the Halloween Horse Show even more. Some riders dressed in costume for the occasion but she enjoyed the fun activities most such as holding a full cup while you walk, trot and canter. The winner was the one who had the most left. Another one was bareback riding. Now she knows why you use a saddle.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with COLDWELL BANKER Mountain Central.
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