Market Update February 2010

Market Update for Rocky Mountain House & Clearwater Country.

Quite often as Realtors we are stopped when we are out and about in the community and asked "How is the Real Estate Market?". My answer is That Depends! Depending on whether you are looking to buy, sell, or invest the market can affect you quite differently. In addition, depending on the type of property you have the market is never the same. There are typically fluctuations in different price ranges and better times to buy, list, or sell a specific type of property.

Our Company has a large team that is educated about the market place. If you are wondering how the market affects your specific real estate needs my advice is to make an appointment with one of our Realtors and take a more personal look at your specific needs.

According to MLS Statistic's 67 properties were listed in the Rocky Mountain House Area in February 2010, 38 of these properties were listed by Century 21 Westcountry Realty Ltd. In February 2009 -35 were listed, 2008 - 55 properties & 2007 - 34 properties.

9 properties sold in the month February 2010. In February of 2009, 7 properties sold, 2008- 13 properties and 2007 - 23 properties.

Bank of Canada today announced that it is maintaining its target for the overnight rate @ 0.25%. Prime rate to remain @ 2.25%. (some banks prime is 2.75%) The ongoing global economic recovery is being driven largely by strong domestic demand growth in many emerging-market economies.

The level of economic activity in Canada has been slightly higher than the Bank had projected in January. The economy grew at an annual rate of 5% in the fourth quarter of 2009, spurred by vigorous domestic spending and further recovery in exports.

The underlying factors supporting Canada’s recovery are largely unchanged-increased confidence, improved financial conditions, global growth, and higher terms of trade.

Conditional on the current outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010 in order to achieve the inflation target.

Next scheduled date for announcing the overnight rate is April 20th, 2010

For more information on today's rates and for mortgage advice visit : http://hlcmortgages.com/myhome/?view=811
All information is based on information provided by MLS(R) statistics