Condos are still selling pretty slow. I expect a buyers market for the next 6 months to 1 year at least.
If you're buying to live in, I think it's a good time as you can look around, make offers and take your time to find the right place. I wouldn't invest in condos for investments sake right now in Calgary.
The US financial crises has a pretty big effect on the condo market because of the high percent of investors in the condo game. When they tighten up their wallets, the market feels it, and that's what is happening right now.
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