EDMONTON REAL ESTATE @EdmontonRealty

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Housing market not headed for crisis!! The recent slide in Canadian housing sales should not be characterized as a free fall, but rather “a return to more normal levels,” according to the Conference Board of Canada. Recent fears that Canada’s housing market is in a bubble similar to the one experienced in the U.S. are overstated, Mario Lefebvre, director for the board’s centre for municipal studies wrote in his blog Sept. 7. “It is undeniable that Canada’s housing market is slowing down. However, this should not be characterized as a free fall. Canada’s housing market is due for a pause. But, most importantly, the fundamentals of our economy remain sound. Contrary to the United States, this country’s labour market has rebounded from last year’s recession. Interest rates, while rising slowly, remain very low,” he says. “This market will pause, but it will not nosedive -- in contrast to the housing market south of the border, which is still battling a large inventory overhang th...