The lower oil prices have started a lot of conversation on how this will impact the local real estate market.
I get asked everyday “how is the real estate market?”
The answer to that question as is often the case is “it depends on the circumstances of the person that is asking the question”.
Let’s face it what most people really want to know is “how will this impact me and my family if at all?”
Although there is no crystal ball that will foretell the future there are always indicators that can be used as a guide.
The Edmonton Real Estate Board does a good job of giving the statistics that reflect the current resale market with their monthly news release which you can find here.
CMHC has made a housing market information portal available here, which covers both local and national housing markets including new home building activity.
CREA also puts out housing stats that can be found here.
Then of course there is your REALTOR® who will provide you with what you might expect to either pay for a home or sell your current home for based on a more focused assessment which takes into account not only the macro & micro markets but also your needs and wants.
There are more resources available and if you’d like more, please let me know.
These are interesting times we live in there is no doubt of that, surrounding yourself with a good team who can help you attain your goals is more crucial than ever.