What's New?
Well Slide the City is coming back for this summer - although I don't think I'm in this year. I'm happy to provide my thoughts on last year's event if anyone wants to know!
Market Update:
Average days on market right now are about 42, a bit higher than we've been used to for Calgary. Spring is traditionally a busier time in Calgary & surrounding areas, so we should see the number of listings rise in the next couple of weeks.
New Down Payment Rules
Canadians looking to buy homes between $500,000 and $1 million will now have to put down larger down payments as new federal rules recently took effect. Under the changes, homebuyers must now put at least 10% down on the portion of a home that costs more than $500,000. Buyers can still put down 5% on the first $500,000 of a home purchase. Homes that cost more than $1 million still require a 20% down payment.
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