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Edmonton leads Canada in housing-price jump

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发表于 2008-2-21 10:59 | 显示全部楼层 |阅读模式
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Home values up more than 200 per cent between 1997 and 2007
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EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.$ U( h2 U/ F  \1 w

2 R4 |7 m9 P6 n2 M! C4 k# ?Home values soared 203 per cent between 1997 and 2007 - "making Edmonton the best return on investment in the country at an annually compounded rate of 11.7 per cent," said the report.1 A/ a. k% A6 ~  @1 [/ U8 Z
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A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.0 w1 ~- \- v( v  I. j5 k" i
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Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.  x' |, d  V% D# Q* n! a8 O  l

) S5 O, Z. L  v& p5 fFirst-time homebuyers sparked the explosion in 1996-97 and have powered the market since then, Re/max said. Buyers trading up, meanwhile, have stimulated sales at the high end of the market., G8 y2 a- Q4 L4 Q& F% h
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In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
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2 T  D* y2 ?8 g! ?6 k"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.& J' A* i$ t; P8 o
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It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
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In Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period.
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发表于 2008-2-21 21:28 | 显示全部楼层
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发表于 2008-2-21 22:29 | 显示全部楼层
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