Mid-Month Market Update November 15, 2019

Sales continued to slip in the first two weeks of November compared to the same time in October, although they aren’t significantly lower than a year ago at this time.  The number of active listings has also dropped which is normal for this time of year although the relationship between supply and demand continues to favour buyers.

Consumer confidence is struggling right now with all the rhetoric about Alberta’s place in Canada.  Our provincial Government is working hard to find some traction for Alberta’s energy business and it’s very possible we will see some results in the new year, including a firm commitment to complete the Trans Mountain Pipeline. A boost in consumer confidence in Alberta would provide a real shot in the arm to the economy.  Another significant boost would be elimination of the mortgage stress test, an unnecessary impediment for both buyers and sellers.

Mid-Month Market Update November 15, 2019

Sales continued to slip in the first two weeks of November compared to the same time in October, although they aren’t significantly lower than a year ago at this time.  The number of active listings has also dropped which is normal for this time of year although the relationship between supply and demand continues to favour buyers.

Consumer confidence is struggling right now with all the rhetoric about Alberta’s place in Canada.  Our provincial Government is working hard to find some traction for Alberta’s energy business and it’s very possible we will see some results in the new year, including a firm commitment to complete the Trans Mountain Pipeline. A boost in consumer confidence in Alberta would provide a real shot in the arm to the economy.  Another significant boost would be elimination of the mortgage stress test, an unnecessary impediment for both buyers and sellers.

Mid-Month Market Update November 15, 2019

Sales continued to slip in the first two weeks of November compared to the same time in October, although they aren’t significantly lower than a year ago at this time.  The number of active listings has also dropped which is normal for this time of year although the relationship between supply and demand continues to favour buyers.

Consumer confidence is struggling right now with all the rhetoric about Alberta’s place in Canada.  Our provincial Government is working hard to find some traction for Alberta’s energy business and it’s very possible we will see some results in the new year, including a firm commitment to complete the Trans Mountain Pipeline. A boost in consumer confidence in Alberta would provide a real shot in the arm to the economy.  Another significant boost would be elimination of the mortgage stress test, an unnecessary impediment for both buyers and sellers.

Mid-Month Market Update November 15, 2019

Sales continued to slip in the first two weeks of November compared to the same time in October, although they aren’t significantly lower than a year ago at this time.  The number of active listings has also dropped which is normal for this time of year although the relationship between supply and demand continues to favour buyers.

Consumer confidence is struggling right now with all the rhetoric about Alberta’s place in Canada.  Our provincial Government is working hard to find some traction for Alberta’s energy business and it’s very possible we will see some results in the new year, including a firm commitment to complete the Trans Mountain Pipeline. A boost in consumer confidence in Alberta would provide a real shot in the arm to the economy.  Another significant boost would be elimination of the mortgage stress test, an unnecessary impediment for both buyers and sellers.

Mid-Month Market Update November 15, 2019

Sales continued to slip in the first two weeks of November compared to the same time in October, although they aren’t significantly lower than a year ago at this time.  The number of active listings has also dropped which is normal for this time of year although the relationship between supply and demand continues to favour buyers.

Consumer confidence is struggling right now with all the rhetoric about Alberta’s place in Canada.  Our provincial Government is working hard to find some traction for Alberta’s energy business and it’s very possible we will see some results in the new year, including a firm commitment to complete the Trans Mountain Pipeline. A boost in consumer confidence in Alberta would provide a real shot in the arm to the economy.  Another significant boost would be elimination of the mortgage stress test, an unnecessary impediment for both buyers and sellers.

Mid-Month Market Update November 15, 2019

Sales continued to slip in the first two weeks of November compared to the same time in October, although they aren’t significantly lower than a year ago at this time.  The number of active listings has also dropped which is normal for this time of year although the relationship between supply and demand continues to favour buyers.

Consumer confidence is struggling right now with all the rhetoric about Alberta’s place in Canada.  Our provincial Government is working hard to find some traction for Alberta’s energy business and it’s very possible we will see some results in the new year, including a firm commitment to complete the Trans Mountain Pipeline. A boost in consumer confidence in Alberta would provide a real shot in the arm to the economy.  Another significant boost would be elimination of the mortgage stress test, an unnecessary impediment for both buyers and sellers.

Sylvan Lake Market Update – November 1, 2019

Red Deer Market Update — Residential sales in central Alberta were slower again in October which is normal for this time of year. It is possible that preoccupation with the federal election also helped slow things down a little. However, the election is over and it’s time for us to get on with business. What can Alberta do that could have a very positive influence on the real estate market?

The federal government’s mortgage stress test was designed to calm heated markets in Vancouver and Toronto but it unnecessarily penalizes buyers and sellers in Alberta where there are no heated markets. The other reason for the stress test was that interest rates were going to be higher in the future and homeowners will have trouble managing those higher rates when their mortgages come up for renewal. But there aren’t any economists predicting higher interest rates any time soon. We need relief from that irrational policy.

The federal government should eliminate the stress test in Alberta. If they won’t, the Alberta government could create an “Alberta Mortgage and Housing Corporation” that would insure mortgages for Albertans without having to adhere to federal government stress test regulations. AMHC would be self funding through similar premiums collected now by CMHC. We encourage all Albertans to write the Prime Minister, Minister of Finance, CMHC, Premier Kenny, your MP and your MLA to ask them to find a solution.

Red Deer Market Update – November 1, 2019

Red Deer Market Update — Residential sales in central Alberta were slower again in October which is normal for this time of year. It is possible that preoccupation with the federal election also helped slow things down a little. However, the election is over and it’s time for us to get on with business. What can Alberta do that could have a very positive influence on the real estate market?

The federal government’s mortgage stress test was designed to calm heated markets in Vancouver and Toronto but it unnecessarily penalizes buyers and sellers in Alberta where there are no heated markets. The other reason for the stress test was that interest rates were going to be higher in the future and homeowners will have trouble managing those higher rates when their mortgages come up for renewal. But there aren’t any economists predicting higher interest rates any time soon. We need relief from that irrational policy.

The federal government should eliminate the stress test in Alberta. If they won’t, the Alberta government could create an “Alberta Mortgage and Housing Corporation” that would insure mortgages for Albertans without having to adhere to federal government stress test regulations. AMHC would be self funding through similar premiums collected now by CMHC. We encourage all Albertans to write the Prime Minister, Minister of Finance, CMHC, Premier Kenny, your MP and your MLA to ask them to find a solution.

Ponoka Market Update – November 1, 2019

Red Deer Market Update — Residential sales in central Alberta were slower again in October which is normal for this time of year. It is possible that preoccupation with the federal election also helped slow things down a little. However, the election is over and it’s time for us to get on with business. What can Alberta do that could have a very positive influence on the real estate market?

The federal government’s mortgage stress test was designed to calm heated markets in Vancouver and Toronto but it unnecessarily penalizes buyers and sellers in Alberta where there are no heated markets. The other reason for the stress test was that interest rates were going to be higher in the future and homeowners will have trouble managing those higher rates when their mortgages come up for renewal. But there aren’t any economists predicting higher interest rates any time soon. We need relief from that irrational policy.

The federal government should eliminate the stress test in Alberta. If they won’t, the Alberta government could create an “Alberta Mortgage and Housing Corporation” that would insure mortgages for Albertans without having to adhere to federal government stress test regulations. AMHC would be self funding through similar premiums collected now by CMHC. We encourage all Albertans to write the Prime Minister, Minister of Finance, CMHC, Premier Kenny, your MP and your MLA to ask them to find a solution.

Lacombe Market Update – November 1, 2019

Red Deer Market Update — Residential sales in central Alberta were slower again in October which is normal for this time of year. It is possible that preoccupation with the federal election also helped slow things down a little. However, the election is over and it’s time for us to get on with business. What can Alberta do that could have a very positive influence on the real estate market?

The federal government’s mortgage stress test was designed to calm heated markets in Vancouver and Toronto but it unnecessarily penalizes buyers and sellers in Alberta where there are no heated markets. The other reason for the stress test was that interest rates were going to be higher in the future and homeowners will have trouble managing those higher rates when their mortgages come up for renewal. But there aren’t any economists predicting higher interest rates any time soon. We need relief from that irrational policy.

The federal government should eliminate the stress test in Alberta. If they won’t, the Alberta government could create an “Alberta Mortgage and Housing Corporation” that would insure mortgages for Albertans without having to adhere to federal government stress test regulations. AMHC would be self funding through similar premiums collected now by CMHC. We encourage all Albertans to write the Prime Minister, Minister of Finance, CMHC, Premier Kenny, your MP and your MLA to ask them to find a solution.