Wednesday, October 11, 2006

Calgary And Edmonton Continue To Have Phenomenal Increases In Property Values

Calgary and Edmonton continue to have phenomenal increases in property values. Edmonton has seen increases on average of 50 percent over the same time last year, and inventory is starting to grow a little bit. Calgary is also near the 50 percent mark on increased property values over last year. These increases are directly attributed to Alberta's economic status as the oil and gas epicenter of Canada.

With housing prices increasing in all major markets across Canada real estate agents and their marketing tool MLS are having problems. Full service agents are accusing discount brokerages, those who operate mainly online, on flooding the MLS network with inaccurate listings. The battle has gone to the CREA, but more studies are yet to be done on whether limiting access to MLS is in the cards.

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