The prices in the Cranbrook real estate market have decreased from 2008 at approx. 8 - 10%. This will be quite a volatile year. Sales were up in March 09, then down in April 09. Interest rates are at an all time low and have been said by the Bank of Canada that they will stay there for at least one year. Stock markets are picking up. Employment is starting to pick up slowly again. When sales start to rise to the levels they were even last year, you will see the prices stop decreasing. Cranbrook is a market all on its own. It is not a big City market like Calgary and Vancouver, who have seen really big increases then a huge fallout. Having said that, Vancouver is already seeing an increase in prices in some price ranges and Calgary is seeing more sales with prices remaining stable. When the Cranbrook market starts to see sales comparible to what they were in 2008, prices will stabilize and then slowly start to increase again. If you are waiting to buy, be careful. Things can move quickly. Once sales starting going, our inventory gets weaker and you won't have much to choose from and the great prices will be fewer and farther between. There will also be a better chance of competing for those homes, therefore increasing the price and losing the great deal.