Hi Friend, Happy Holidays! Despite all the uncertainty facing the world today, there are some silver linings. Here's a few items we thought we'd share: Average sale price for Edmonton homes went up 1% in 2020, and it's forecasted to increase 2% in 2021 (source: RE/MAX, Dec 1 2020). We'll take it! Bank of Canada is keeping its target overnight rate at 0.25%, and does not expect it to change until 2023 (source: Bank of Canada Press Release, Dec 9 2020). What does that mean? Good time to get or renew a mortgage and lock-in a low interest rate (we got 1.45%), AND there is still time to do it (i.e. you haven't missed the boat if you didn't buy in 2020). Avenue Living and Mainstreet, who combined own about 24,000 multifamily units across the prairies, had more than 95% of their tenants pay their rent during the pandemic (source: Western Investor, Dec 18 2020). We had a similar experience, and had only 1 tenant leave to go live with her parents due to job loss. This shows stability in the market.
Though these holidays looked different this year, we hope you were still able to connect with loved ones, even if not in person. Wishing to health & happiness in the new year! Stay safe! Zorya & Patrick | 
