St Patrick’s Day brings Good Luck to the Housing Market!
“Maybe it was the lucky spirit of St Patrick. Or maybe – just maybe – it was a first sign that the US housing market could be turning around…”
That’s how Todd Hirsch, Senior Economist for ATB Financial began his Daily Economic Comment today. After a long streak of declines in US housing starts, there was a 22% rise in activity when comparing February to January this year. The biggest increase in activity was in condos.
This hardly heralds the end of the US housing crisis, but definitely is an optimistic sign! This news, combined with new policies south of the border aimed at assisting homeowners to avoid foreclosure, all contribute to hope for better days ahead for our friends south of the border.
Locally we are enjoying an improving market, especially for homes under $300,000 where we have even seen some multiple offers and some very quick sales. One recent listing in this price range received an offer the first day it was on the market! That’s something we haven’t seen in awhile, and is good reason for an optimistic outlook for the future “north” of the border as well!
Contributed by Kathy Schmidt, Perennial Optimist and Broker Owner of Schmidt Realty Group Inc
« Province of Alberta Best Place to Ride Out the Recession! | Home | Oil Over $50! That’s Great News for Alberta »
Comments are closed.