I think that the worst was over since Jan/Feb 2009 because since then, we've seen month over month increases in Avg. sale prices across the city. Add to it the very attractive Low Interest Rates, and we've seen a sustained rebound and recovery in home prices and sales that have yet to go through the seasonal slowdown.

Good news for sellers as they are able to rest assured that the prices are no longer falling... BUT it is important to note that it is still very competitive and if they aren't shown as the best value in the buyers eyes, then they still will have a tough time selling to buyers who are still looking for deals.

It's also very good news for buyers, as their boost in confidence in the Calgary Real Estate Market, and the low interest rates, still make it affordable, especially for first time buyers entering the market.

With the most recent news of the Bank of Canada not raising the prime lending rate and reassuring that it will stay the same well into 2010, will keep the rates lower and allow for both buyers and sellers to benefit from the current situation.

I'd love to hear what you think... feel free to post your thoughts!