Carnie's Comments

 

So, the Bank of Canada, as anticipated, raised its key interest rate by half a percentage point last week and told us rates will need to rise further this year.

Speculation is it'll impact the real estate market across the country.  I listened to an expert this weekend who said real estate is already "cooling down" with not as many buyers in recent days and he predicts prices will be coming down in high-priced markets.

The local real estate market has been vibrant in recent months.  A number of homes in my neighborhood weren't on the market long before they sold and there are a number of others up for sale now.Realtor.ca tells me there are 187 homes for sale in Moose Jaw to start a new week and you'll find 81 of them listed on "Hello Goodbye" on DiscoverMooseJaw.com today.

It'll be interesting to see if rising interest rates will lead to a drop in prices for local homes - time will tell. 

You know, my dad bought our family home in Moose Jaw in 1973 - three bedrooms, two bathrooms and an attached garage for $23,000.  I miss the 70s.