Congratulations Ron! Top 100 Western Canada Re/Max Agents-March 2010
Growing Inventory = Balanced Market
The real estate market moves quickly these days. In February our listing inventory was low and we had a sellers market with the average sale price rising in March along with sales volume. As listing inventories took off in March and continued in April the influx of new listings stabilized the market and we experienced a corresponding drop in both average sale price and volume of sales. The hurry up and buy before the lending criteria changed has worked its way through the market creating the March upward blip. April with its change to lending criteria coming into effect and the two increases to the long term mortgage rates coupled with the spike in listings has balanced the market. We are bellow our peak for average sale prices achieved in December of ’09. We are now seeing prices beginning to soften as supply and demand come into balance. The impact of lending rates will determine the strength of our market through the rest of the year.
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