At the start of the year, the housing market in Edmonton was booming. Many homes sold for over the asking price as soon as they hit the market.“What we’re seeing now is our market actually normalizing,” Remax realtor Morgan Taylor said.
The chair of the Realtors Association of Edmonton said consumers are used to those one or two per cent interest rates, and now they’re looking at around five per cent. “Just brace yourself and understand that the cost of borrowing money has doubled essentially, since the beginning of the year.”“It’s about pricing it right and knowing that your home is going to take a little bit longer to sell over the next couple of months,” he said.Ask the Expert: Navigating Edmonton’s hot real estate market – Apr 18, 2022
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