Dale Boddy's Look at the Real Estate Market:
Red Deer, January 2004.
Red Deer is growing and growing. After only a few weeks absence, introductions to new buildings and even new sub-divisions are required. It seems that every year is better than the one before.
While building permits for new buildings declined in 2003 (1225 to 997), Multiple Listings Service sales increased a lot—to 1341 from 1257. Buyers generally had good selections of MLS listings and this selection kept prices relatively flat. Average prices of single family homes increased just 2.9% over 2002, a more sustainable pace than the 8.2% increase in 2002 over 2001. Posted mortgage rates were around 6% but with good credit ratings, deals could be had. Good selection of properties, steady prices, and great interest rates kept sales humming.
It is easy to smile when sales are growing!
“THE FUTURE’S SO BRIGHT, I’VE GOT TO WEAR SHADES!” YEA!! YEA!! YEA!!
Just as the rock song’s message blasts away, so too does Red Deer’s Real Estate market. Our market has grown and grown and grown. All this while agriculture lurches between drought and Mad Cow scares. Will Red Deer’s growth spoil us?
In 2003 TD Economics issued a positively gushing report titled “The Calgary-Edmonton Corridor.” It said, “Specifically, it is the only Canadian urban centre to amass U.S.-level of wealth while preserving a Canadian-style quality of life.” TD forecast continued growth while pointing out challenges that must be met. If Red Deer and Alberta’s growth is to continue, governments and citizens will need to respond to several challenges. One challenge, post-secondary education, is the focus of TD Economics newest report. It notes that Alberta’s college participation rate lags Canada’s and Canada’s rate lags other developed economies
What do you think? Call!
Ask for Dale B: phone 346-6798 @ home, 318-2402 @ cell or 346-0021 @ pager or dale@reddeerproperties.com.
*Members of the Red Deer and District Real Estate Board have supplied the above information. While it is from sources believed reliable, this information should not be relied upon without verification.
Dale Boddy's Real Estate OUTLOOK: Red Deer; Current Edition. Dale Boddy's Real Estate OUTLOOK: Red Deer March 2007. Dale Boddy's Real Estate OUTLOOK: Red Deer November 2006. Dale Boddy's Real Estate OUTLOOK: Red Deer 2007. Dale Boddy's Real Estate OUTLOOK: Red Deer 2006. Dale Boddy's Real Estate OUTLOOK: Red Deer 2005. Dale Boddy's Real Estate OUTLOOK: Red Deer 2004. Dale Boddy's Real Estate OUTLOOK: Red Deer 2002.
