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MLS inventory hits 11,000" F: \% ]$ ?5 I+ b
Record number of homes for sale 21/2 times greater than last June's lineup+ N% p& Q" F' B
8 _ b: g& s1 d, H7 q2 e: `Bill Mah, The Edmonton Journal/ f9 |& c% w( a3 @- P1 b+ O
Published: 1:33 am8 J3 R& Q. `8 j
EDMONTON - A record glut of Edmonton-area homes for sale shows no signs of shrinking soon.
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1 T5 W4 h; _" n% o. uAt the end of May, 11,006 residential properties sat unsold on the Edmonton Multiple Listing Service, according to monthly statistics released Tuesday by the Realtors Association of Edmonton.8 b% K/ g6 b4 T# Q+ c
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That's up 400 homes from a month ago, and 21/2 times the inventory of the same time last year. At the current pace of home sales, that amounts to a six-month supply, twice the normal inventory.
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5 C- q) ?! s! K8 w6 ~Good news, if you're a buyer. For sellers, it means waiting an average of 53 days for a sale -- up one day from April.0 m( J9 ]1 o. ]0 \7 E
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"It's a great time right now to be purchasing, because the selection has never been better and the interest rates are low," association president Marc Perras said.& P3 [3 Q; t d" Y! @* a
- h6 \% q2 J8 l6 u2 z: g7 a8 pPerras predicted the surplus will shrink to about 8,000 by the fall as homes sell or multiple homeowners rent out extra homes instead of trying to sell them.
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In May, 4,294 homes were added to the listings inventory and 1,821 homes sold. May sales were higher than same-month sales in 2003 and 2004, but fell short of May sales for 2005 to 2007, during a real estate boom.
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Despite plummeting demand, prices have remained relatively stable.
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3 T0 A: \- E1 s, x; c! LPerras forecasts home prices will rise by an average of four per cent by year's end.
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In May, the average (mean) price for all types of homes rose one per cent from April to $340,499. That price is down about four per cent from a year ago.
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4 R& [+ L; v) h0 y, e) \0 RThe May average selling price for a single-family dwelling was $383,167 -- down about 10 per cent from May last year.* U5 q1 B; V/ p# N9 }! ]; V1 I. A6 \
8 V, F; U9 Z" b4 Y2 YThe median -- middle figure in a list of all sale prices -- selling price for a single-family home in May was $365,000, down 8.75 per cent year-over-year.
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_* Q. p" C1 z+ PThe average selling price for condos was $260,837 in May, down nearly two per cent from the same month last year.
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* ]9 l) L, |' s5 S( CPaul Messinger, a University of Alberta marketing professor, said the Edmonton real estate market appears to be following an economic model that says in times of high demand, prices get bid up rapidly.
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Prices are slower to drop when demand falls.% `# J" M' ?6 g+ p: F
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"Now, when we are back closer to historical patterns, we see an adjustment where the slack is taken up not by price but by the inventory," Messinger said.
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! S+ R* C4 C t6 o. T; b"For years, Edmonton was one of the best real estate values in the country. Now we are much more in line with the rest of Canada in terms of price."
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http://www.canada.com/edmontonjo ... e-8b7d-c879e1aba77a0 F( a E. z4 d' ^" o
* r4 S# `& ]1 `: ~- C9 w, q1 c[ 本帖最后由 circle 于 2008-6-4 08:17 编辑 ] |
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