Resale housing market is not "plunging" say experts

The Edmonton resale housing market is not "plunging" says the REALTORS Association of Edmonton. Despite a weakening national housing market, prices of existing Edmonton homes are stable and sales are increasing, according to the association.

"There is no cause for concern about the health of the Edmonton resale market," says Marc Perras, president of the REALTORS Association of Edmonton. "All real estate markets are local and buyers and sellers in Edmonton should look at the details of this market rather than responding to attention getting headlines from reports based on national trends."

The association reports that residential housing prices in Edmonton have narrowly fluctuated this year and sales continue. "Sales will increase from demographic changes such as more single women buying houses and condos," says Perras. "More young people are living alone and boomers and seniors are buying second homes for recreation or to prepare for retirement."

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