Edmonton housing market ‘relaxed’

EDMONTON — Sales of Edmonton-area homes fell 26 per cent in May from the same time last year as rising mortgage rates, tighter lending rules and jittery financial markets kept buyers out of the resale market.

There were 3,670 residential listings in May with sales of 1,682 properties, according to figures released Wednesday by the Realtors Association of Edmonton.

That's also down 3.3 per cent from 1,740 residential properties sold in April, the figures show.

"Financial incentives, changes to mortgage qualifying rules and the threat of increasing mortgage rates caused the local market to peak a little earlier this year," Westergard said.

"Many buyers exercised their options in April, leaving the customer base a little leaner in May."


Read more: http://www.edmontonjournal.com/business/Edmonton+housing+market+relaxed/3102620/story.html#ixzz0ppKWJHG3




Edmonton housing market ‘relaxed’ http://ping.fm/AQ7cW

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