The residential real estate market in central Alberta is not off to the same start it was a year ago, but things have changed since then. Interest rates are much higher and concerns about
Market Update January 15 2023
Dated: January 18 2023
The residential real estate market in central Alberta is not off to the same start it was a year ago, but things have changed since then. Interest rates are much higher and concerns about inflation and a potential recession in the rest of Canada are weighing in, especially if all your exposure to the facts comes from the legacy media which only knows how to report Toronto and Vancouver economic and real estate statistics.
The Central Alberta economy which drives the real estate market is in pretty good health. Red Deer’s population has grown in the past year, faster than the housing industry can keep pace. The rental market has gone from high to low vacancies and the number of homes available for sale have dropped to record lows. There has been very strong buying activity in central Alberta that isn’t showing up in firm sales yet, but is evident in the number of pending sales on the books.
The Alberta economy is predicted to be the best in Canada in 2023. We aren’t forecasting a booming real estate market in central Alberta, but we do believe it will be a good market with stable prices and opportunities for both buyers and sellers.
A highly motivated REALTOR ®, Alison greatly values and recognizes the trust that real estate buyers and sellers in Central Alberta have placed in her. With over 25 years of experience in the real e....