Toronto, Ontario (PRWEB) May 13, 2013
Marcus Arkan, CTO of Syndicate Mortgages opines about a recent post arguing that a rising condo market is the reason of the city’s thriving real estate environment. The original news article is posted by the Realtors Association of Edmonton and credits a tighter supply of listings helped boost home resale prices in March. The post also says that the housing market in the city has also “accelerated” in March faster than last year.
Mr. Arkan argues that the increase from last year was inevitable considering that the housing market has experienced a considerable rise since 2012. “Condo resale prices were favorable since last year especially at the end of 2012”, says Mr. Arkan, “It isn’t surprising why listings are tighter in Canada’s fifth largest municipality. “
According to the post, an influx of listings is common come spring. For instance, the condo market saw 387 units sold in March for an average of $246,575 this year. This is a significant increase from sales last year in which 384 sales were sold for an average price of $229,304 in March 2012.
The post also says that potential buyers might be deterred from doing business due to fears of the real estate market cooling down in some areas. However, according to Mr. Arkan, improving market conditions in Edmonton offer a glimpse into a real estate environment that might spread to the rest of the country. The real estate mogul points out to the news article by the Realtors Association of Edmonton that says that prices will start to stabilize again as more people put inventory in the market. The real estate expert quotes RAE president Darrell Cook who says that the market is on a continuous rise right from the beginning of the year.
In the end, the syndicate mortgage expert argues that how the housing market fares in Edmonton still remains to be seen over the next few years. However, things seem to be picking up if the current rise in resale homes in the city is taken into consideration.
About Syndicate Mortgages
Syndicate Mortgages is a real estate firm in Canada that offers customers help in finding the best real estate rates in the country. The firm provides access to a variety of Canadian credit unions, trust companies, major banks, private funds and over 70 Canada Mortgage lenders. It is composed of industry experts that advise buyers and sellers about their choices according to the country’s real estate market trends. The experts also offer financial advice according to how the real estate industry fares in the country as well as products. For more information about the company please refer to the following -
Syndicate Mortgages Inc.
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