Calgary Real Estate Market - Today

In a market like this, you need to know what is going on from week to week.  The prices are stabilizing right now.  But just right now.  Why?  Buyers are waiting for the Bank of Canada key rate decrease which affects banks and the interest rates they offer to Buyers.  I predict this to occur in July, although there is speculation it will happen in June.  With 67% of expected buyers waiting for this decrease, they will wait the extra month or two before they purchase so this is decreasing demand.  HOWEVER, I just sold a half-duplex in Cedarbrae this week and it went for $55,000 over list price.  So there's that.   y.  It will, however, provide some relief to those with variable rate mortgages - and this is sorely needed by many.