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September 25, 2012
Edmonton / U of A Attracting the Brightest Minds
I like to hear / read all of this; our great City keeps improving!!
Lamphier: Professors from top business schools flock to University of Alberta
EDMONTON - They come from some of the leading business schools on the planet — institutions that command the same level of respect as corporate heavyweights like Apple, IBM and Google.
We’re talking about A-list B-schools here, such as Columbia, Wharton, Penn State, Vanderbilt, Oxford, Rochester, Indiana and Illinois. Every one of these schools holds down a spot in the Financial Times’ 2012 rankings of the top 100 MBA programs in the world. To continue reading, click here...
September 20, 2012
Canada Rises to Top 5 in World Economics...
Wow, this is great for Canadians, not so much for our friends down south though:
Canada rises to top five in world economic freedom ranking as U.S. plummets to 18th
By Sarah Boesveld, National Post
Canada has taken its place among the Top 5 countries with the most economic freedom, according to a new Fraser Institute report — now leaps and bounds ahead of the United States thanks to the gradual shrinking of the Canadian government since the mid-1990s as America’s just got bigger.
The annual Economic Freedom of the World report, released Tuesday, has Canada tied in fifth place with Australia — up one spot from last year. Hong Kong remains at the top, Singapore’s next, then New Zealand.
Meanwhile, the United States, once a “standard bearer” of economic liberty among industrial nations, spiralled 10 spots from the 2011 rankings to 18th place — its lowest position ever, and a huge drop from its second place spot in 2000.
And as the size of Canada’s government continues to slightly shrink due to slowed growth in government spending post-recession and America’s continues to expand, this indicator could eventually make us the industrialized world’s new leader on economic freedom, said Fraser Institute president Niels Veldhuis.
© Copyright (c) National Post
September 18, 2012
Calgary & Edmonton to Lead Canadian Economic Growth
This is great news for Alberta folks and lovers!
Energy-related investment to fuel expansion
CALGARY — Calgary and Edmonton are forecast to be the fastest growing economies in Canada over the next four years, according to the Conference Board of Canada’s Metropolitan Outlook-Autumn 2012 released Tuesday.
“Energy-related investment in Alberta is expected to stay vibrant throughout the next four years. For instance, about $29-billion worth of energy-related projects are now underway in the province, and nearly $86-billion worth of projects are proposed for the future,” said Mario Lefebvre, Director, Centre for Municipal Studies, for the board.
The board is forecasting Calgary to have the best economic growth in the country over 2013-2016 at an average of 3.7 per cent followed by Edmonton’s average annual real GDP growth at 3.5 per cent during the forecast period.
For this year, the board is predicting Edmonton will lead the country with 4.6 per cent growth followed by Calgary at 3.8 per cent.
The board said Calgary is coming off a “very strong performance” in 2011 with economic growth at 5.0 per cent. The strong growth expected during the forecast period will be “helped along by strong consumer spending and spinoff benefits from the energy sector.”
Also on Tuesday, a report by TD Economics said Canada will likely experience a shift from household and government-led growth towards exports and investment, but global headwinds appear to have delayed this transition until the first half of 2013.
In the meantime, the report said, the economy will be stuck in neutral and Canada’s economic expansion will be constrained to a pace near two per cent.
September 6, 2012
Edmonton's Slower Market Activity Matches National Trend
Edmonton, September 5, 2012: Residential property sales in August slowed both month-to-month and year-to-year, mirroring a trend that has evolved nationally all summer. Sales of all types of residential properties in August (1,430) were down 17.4% from July and down 10.7% from a year ago. The number of people offering their properties for sale also slowed but not as sharply as sales. There were 2,732 residential properties listed on the Multiple Listing Service® in August; down 2.2% from a month ago and down just 5.6% from a year ago. The available inventory was reduced 2.9% to 7,458 properties.
“Housing sales across Canada have dropped slightly since May,” said REALTORS® Association of Edmonton President Doug Singleton. “The sales activity varies from market to market and it appears, when compared to last year that Edmonton is slowing faster than the national trend after a very active spring. Never-the-less, housing prices are still up from a year ago and consumer confidence is high.”
Despite the slowdown in sales, prices were up as compared to August 2011. The average* selling price of a single family detached home (SFD) was down marginally (-0.15%) at $384,477 from last month but up 3.8% from a year ago. Condo prices were also down marginally (-0.9%) from last month at $237,042 but up from last year. The all residential average price was $334,395 (down 0.5% m/m) which is up 3.2% from August 2011.
Average prices are affected by the difference in price of similar properties as well as the market composition or
mix of homes sold. Compared to a year ago, a typical bungalow in August sold for 2.2% more while a typical 2-story home sold for about 3.2% more. While the price of an individual home was rising, the market composition was also changing. In August 2012, 53% of SFDs sold were priced below $375,000 as compared to 59% in 2011. In addition, the number of sales of homes over $500,000 was up from 11% in 2011 to almost 15% this year.
“August sales illustrate the changes in the composition of the market,” said Singleton. “More consumers are purchasing homes at the higher end of the market. This is an indicator of consumer confidence and a long term view that this market is stable. ”
The average days-on-market in August was up two at 54 days. The sales-to-listing ratio was down, moving down from 62.0% in July to 52.3%.
||M/M % Change
||Y/Y % change
|SFD2 average selling price - month
|SFD median3 selling price
|Condominium average1 selling price
|Condominium median selling price
|All-residential4 average selling price
|All-residential median selling price
|# residential listings this month
|# residential sales this month
|# residential inventory at month end
|# Total5 MLS® System sales this month
|$ Value residential sales this month
|$ Value of total MLS® System sales – month
|$ Value of total MLS® System sales - YTD
1 The total value of sales in a category divided by the number of properties sold
2 Single Family Dwelling
3 The middle figure in a list of all sales prices
4 Residential includes SFD, condos and duplex/row houses.
5 Includes residential, rural and commercial sales
1 Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA.