*May* Real Estate Review for Central Alberta

Dated: 06/18/2018

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While economic indicators continue to show improvement, and Alberta's GDP out paces the rest of the country by over 30%, our real estate market continues to have it's challenges. The impact of the tightening of mortgage rules and higher interest rates has had an impact on slower residential resale markets nation wide. It seems to have compounded in the Alberta markets, as we continue to see lower than normal sales volume, which in turn is allowing the listing inventory to grow. The sales in May 2018 were 19% below last year's numbers, and 24% below longer term averages. 

As a result of the lower sales and climbing inventory, our absorption rate for Central Alberta has climbed to 4.9 months which moves us into a buyers market. This is leading to frustrations for sellers with lower showing activity, and climbing days on market. However, prices remain relatively stable in most sectors regardless of the lower sales volume. The feeling across the market seems to be one of nervous anticipation. Even when we get good news it seems to come with uncertainty and controversy, failing to help boost consumer confidence in the Real Estate Market. That said, we seem to be on the brink of turning over to better markets as the economy continues to improve.
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Jordanna Rowat

Becoming a Realtor was the best decision I have ever made, because "going to work" doesn't feel like going to work. My passion is to help you turn your Real Estate dreams into a reality. Whether you a....

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