The median price rose to $309,000 in May. That’s up 2.7 percent from the month before but down 21.8 percent from May 2007.

You provide a good example of misinformation in full flight. According to the Winnipeg Real Estate Board’s release today, here, these are the facts:

Nice job spinning. I hope potential buyers in that market see that with flat-to-negative sales and a 28% mushrooming in listings that anyone buying now will be paying too much. — Garth

Here is some “good news” to balance off your selective and negative (might I also suggest self serving – book sale related) approach to Real Estate News.

Having completed my purchase this spring in Palm Springs, I am happy to see volume pick up and the perceptions begin to change.

Picking the bottom in a real estate market is not nearly as important as avoiding the top. When I purchased US dollars for my transaction on February 28, the rate was sitting at 1.028. Since that time, the CAD has sagged and money saved on the “buy” would be lost on the currency conversion so I am happy with the timing. I purchased highly desireable condo at a very good price – 40 percent less than the price in 2005 with currency that was 30 percent stronger than in 2005.

All the chicken little’s of the world, most of whom have cleaved to your ample chicken little bossom will miss the opportunity to make a smart purchase during this time. From coast to coast to coast, your advice is all the same – rent don’t buy – and it is not good advice.

There is money to be made in real estate right now and places like Toronto, Calgary, Victoria, and Edmonton stand to shake off the over supply quicker than you realize and will make gains of 5 – 10 percent in the coming year.

Here is some news of interest to Canadians.

Coachella Valley – Palm Springs Real Estate News

April housing sales strongest since September 2005

April’s housing sales marked the strongest year-over-year showing the Coachella Valley has seen since September 2005.

The 912 homes sold in April reflect a 3.8 percent drop from the year before – a marked improvement compared to typical year-over-year declines that have hovered around 30 percent.

The sales also mark a 25.1 percent increase over March, according to a monthly analysis of the valley DataQuick Information Systems released this week.

A bulk of April’s sales were resale homes, which made year-over-year gains.

It comes as median prices are down to $301,000 – the lowest since September 2004 – and as local real estate agents are touting the Coachella Valley as a prime buyers’ market.

“We’ve seen little baby steps, little baby steps (in the market upswing). Now you’re starting to see full strides,” said Sam Schenkl, executive officer of the Palm Springs Regional Association of Realtors, which represents 1,500 agents and brokers.

DataQuick’s April analysis also shows:

The resale market continues to drive housing sales.

A total of 496 existing single-family homes sold, up 2.5 percent from April 2007. There were 276 resale condos sold in April, up 1.5 percent from a year ago.

New construction continues to struggle, though sales rose over previous months. A total of 140 new homes were sold. That’s a 27.1 percent decline from April 2007.

The valley’s median price of $301,000 was down 22.8 percent from April last year.

The most expensive home sold in April was a $7.7 million home in Indian Wells.

April’s sales continue an upward swing that began in the fall. It’s the highest number of monthly sales since July.

Coldwell Banker’s local offices recorded about 300 open escrows in April, regional vice president Ron Gerlich said.

The company is “right on track” to see the same in May, Gerlich said.

He noted there continues to be a number of people looking at homes but not quite ready to commit to a purchase.

“Second quarter, I’m sure we’ll be in better shape,” Gerlich said of the increasing sales trends. “There’s all sorts of activity.”

Experts credit renewed confidence from investors, notably Canadians, for helping boosting April’s sales.

Many visitors who have enjoyed the desert all season want to buy before they leave and summer starts.

“People have been holding off; now they’re ready to make the move,” Schenkl said.

In 2006, Canada’s homeownership rate reached its highest level since 1971, according to a new detailed analysis of data on housing, homeownership and shelter costs from the 2006 Census.

At the same time, the percentage of households spending 30% or more of their incomes on shelter, a measurement of housing affordability developed by the Canada Mortgage and Housing Corporation (CMHC) and the provinces, increased slightly. Most of this increase was for homeowners with mortgages as opposed to renters or mortgage-free owners.

Of the 12.4 million households in Canada, more than 8.5 million, over two-thirds (68.4%) owned their home, the highest rate since 1971. At the same time, the proportion of Canadian households that rented their home slipped from 33.8% in 2001 to 31.2% in 2006. About 3.9 million households rented their home in 2006.

The increase during the five-year period continues the long-term trend in rising homeownership that picked up in 1991 after a period of low growth during the 1980s.

In 2006, an estimated 3.0 million households, or 24.9% of the total, spent 30% or more of their income on shelter, a slight gain from 2001. Among homeowners with mortgages, the proportion was 25.7%, up from 23.6% in 2001. Some of these households may have chosen to spend more than 30% on housing, but the census does not provide information on intentions.

Households in the Atlantic provinces continued to have the highest homeownership rates in the country in 2006. Those in Newfoundland and Labrador had the highest rate, 78.7%. Households in Quebec had the lowest provincial rate at 60.1%.