Edmonton’s housing market shows strength for 2013

EDMONTON – Edmonton housing prices continued to climb steadily during 2012, with the average of all homes at $333,140 in December — a jump of 5.4 per cent over the same period last year, the Realtors Association reported Thursday.

Single family homes did even better, ending the year with an average selling price of $391,427, up 6.8 per cent over last year. However, condominium prices were down slightly, by less than one per cent for 2012, with the average selling price $225,143.

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City’s assessment of property values rises by 3 per cent

Calgary homeowners will soon see their property assessments arriving in the mail, and they can expect slight increases this year.

The City of Calgary has mailed out nearly half a million property and business tax assessments for this year’s assessment customer review.

This year, typical houses and condos have increased in value by three per cent from last year.

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Shaky foundations: How Ottawa’s computers get Canadian home prices wrong

When Dennis Gilmore gathered financial analysts and investors on a conference call last summer, the head of California-based First American Financial Corp. had some troubling news. It was what he referred to bluntly as “the situation” up in Canada.

The Los Angeles-area insurance company was losing tens of millions of dollars due to hidden problems in the Canadian housing market, and there were no assurances that the bleeding was going to stop.

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