There are many great Calgary area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a list of Featured Properties so you know what buyers will pay for your home in today's market. You may also call me at (403) 660-6200 for a FREE home buying or selling consultation to answer any of your real estate questions.
This summer a lot of people have asked us if we are in a real estate bubble. To answer that question, it's important to understand two of the main criteria involved in creating such a bubble.
- Significant increases in interest rates have a destabilizing effect on the market. Governments are typically cautious about raising them because they can have a substantial impact on manufacturing and job creation. Right now, both internationally and here in Canada,we are still seeing pretty favorable rates.
- A significant increase in unemployment is another sign that the market may be on shaky ground. Here in Alberta we are seeing significant job growth - in May we accounted for 90% of all new jobs created in Canada.
Because interest rates are low throughout Alberta and the nation as a whole, and we are seeing job creation throughout the province, we can say with confidence that we are not experiencing another real estate bubble and that we don't expect to see the above criteria met any time soon. But, of course,real estate is hyper-local - some areas have higher turnovers than others, so you need to look at specific neighborhoods to get a good idea of whats going on. Give us a call or shoot us an email with all of your questions and concerns, we would love to be your real estate resource.
