Edmonton House Prices
One word... WOW!! So far to date this month we have seen the average selling price for single family dwelling rise over $20,000. Few even know these numbers now. This information will be released to the press in the first few days of April. What will be the result? Will we see people buy sooner for fear of prices rising further? Will sellers want more for their properties? Will the majority of people believe this is just a "blip" because of the rush to get into a mortgage before rates go up and beat the mortgage change rules. Many are saying this very thing. I, however disagree. The numbers behind this information point to a new price zone. I suspect we could push the $400,000 barrier by July and then slip back into the $390's by December temporarily. Time will tell, but if I were a buyer I would buy now; if I were selling I would wait until May to list if I could.
Dennis Faulkner, B.A. Economics