We at Team Leading Edge want to keep you up to speed on ALL of the economic information available about the real estate market. When we get some specific information for the Edmonton Market, we want to get that out to you as soon as possible.
Canada Mortgage and Housing Corporation just released their Edmonton CMA with specific information about the housing market in Edmonton. There are two main points that we would like to summarize here, but we ENCOURAGE you to download the report and read it. More importantly, we would be happy to discuss your specific needs and the market as it relates to your home. No obligation or cost. We simply want to be of service to you.
- The New Homes Market in Edmonton is projected to increase modestly, with single unit new home starts will increase modestly in 2017, while multi-unit starts are projected to decline.
- The Existing Homes market in Edmonton will improve in 2017. (see the quote below) This is followed by a projected more substantial increase in 2018.
"Existing home market: Modest recovery in 2017 After posting an eight per cent decline in 2015, MLS® sales in the Edmonton CMA have continued to move lower in 2016. Economic conditions have deteriorated in recent months and have led to a decline in the demand for resale homes. Demand in the existing home market is not expected to pick up until the second half of 2017, and this is predicated on improving economic conditions. Based on this assumption, resale activity should post a modest gain in 2017, followed by a more substantial increase in 2018."
Please take a look at the WHOLE REPORT which you can download here.
Again, if you have questions or would simply like to talk about how this affects your homes value, or how we can be of service to you, we will be happy to consult with you!
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