Calgary Real Estate Blog

The Calgary Herald, whose paywall experiment seems to have gone away, reports today that there’re more houses being sold and bought than you can shake a stick at, despite July traditionally being a slower month, what with the Stampede taking everyone’s time (and speaking of Stampede: bacon-wrapped corn dog. That is all). The Herald uses the word ‘deluge’ to describe the rush of buyers looking to enter the market or move somewhere not described as a flood plain.

I’ve never been one to complain about having too much work, despite it elbowing its way into my personal life more and more (I continued negotiations on two offers during an intermission at Stage West not long ago) and leading to a highly irregular meal schedule, so this is great news for me. I’m still camping with the family (mobile Internet is a beautiful thing for telecommuting from the mountains), still enjoyed some Stampede shenanigans, and still managed to help some great families find great homes. This pace won’t continue forever, so right now I say, “bring it on!”.

At the end of January, RE/MAX released their Canadian Homebuying Trends Survey 2013-2014, and among other interesting facts outlined in the results it showed one-in-five homebuyers in Alberta to be single, with 40 percent of those in the market between 18-34 years of age (more than in any other province). Yet another sign of Alberta’s stable, growing housing market, and confirmation that this province is a great place to live for the young and ambitious. Unlike some provinces where the confluence of skyrocketing house prices, relatively low wages, and a hefty tax burden make renting the only option early in one’s adult life, in Alberta we’re blessed with opportunity.

Also noteworthy from the survey is the finding that nearly a third of Albertans intending to buy property this year plan to have at least a 30 percent down payment. Low interest rates won’t last forever (although recent predictions suggest they’ll last for a while yet), and so I’ve always felt it’s wise to pay as much principal as possible to keep mortgage payments low even when rates fluctuate (not to mention saving significant money long-term). I’m pleased to see that message being received across the province.