Sales activity reported by the Edmonton Real Estate Board shows Edmonton’s real estate sales activity was flat during February after a brief uprising in January. Single family detached properties sold for $359,934 which represented a 1% increase. Condominium sales fared better with average price sold at $230,911 which as a 4.5% over January’s sales prices.
Edmonton Real Estate Board President Chris Mooney said “the price increases for all housing types from January indicate the slow upward movement that local REALTORS® anticipated.” Really? Did President Mooney take a poll of Realtor’s attitudes? If Calgary and Edmonton can’t show good gains in Canada’s so called post recession recovery, then why has the Conservative government so cavalierly proclaimed the end of the recession? “With the recent announcement by the Bank of Canada that interest rates are not being raised, consumers can have confidence in the strength of the local real estate market,” said Mooney.
Consumers who are wealthy first time homebuyers might be all aglow about Mooney’s statement, but anyone selling isn’t so happy about this lagging market that’s been going on too long now.