The Calgary Real Estate Board has released statistics for December 2008.
Supply is currently outweighing demand, and like any economics 101 teaches us - this causes a downward trend in prices. Home owners feel secure when prices are going up, and we become concerned when they are dropping. For those thinking of moving (depending on your specific situation of course) today's market could actually work to your benefit.
Lower priced homes are holding their value better than the more expensive properties. Having said this, you could actually move up to a larger home and see a considerably lower price spread (increase in your mortgage) than if you were to do it at another time.
At the end of the day, it's the "bottom line" that you should be looking at. Rob Johnstone www.CalgaryHomePros.com
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