National and Provincial Reports for Fall 2019
Some good news for the housing industry in Alberta and Canada, the Canadian Real Estate Association reported that National Home sales recorded via Canadian MLS® Systems advanced for the seventh consecutive month, raising them 18% above the six year low reached in February 2019, but leaving them about 8% below highs reached in 2016 and 2017. Read more about that here.
The September Market Report from the Alberta Real Estate Association says of Edmonton that: “Following a one-month pullback in sales, September sales activity improved over last year’s levels and were just below long-term trends. Year-to-date sales are comparable to last year’s levels, but there has been a shift in the type of product sold. Sales activity has improved for product priced below $300,000 which represents 35 per cent of all the sales. Meanwhile, sales have eased across all other price ranges.
While new listings in September remained stable compared to last year, for much of the year new listings has eased, reacting to weaker demand levels and easing prices. This has helped place downward pressure on inventory levels and is slowing pushing the market toward more balanced conditions. While this will eventually support more stability in prices, current prices continue to ease.” See the full report here.