Edmonton Real Estate: Market Outlook
Last week we had the pleasure of attending the Edmonton Housing Forecast that featured 3 economists (from CMHC, Alberta and the City of Edmonton) and the new chair of our board to gain a deeper understanding of what is happening in the economy overall and more specifically Edmonton. Surprisingly, all 3 economists shared similar views about Edmonton’s market for 2017. The best way to describe it would be “fairly steady” which is not a bad thing to hear considering all that has been occurring in Alberta over the last few years.
- Edmonton will outperform Alberta due to it’s relatively diverse economy.
- Unemployment in the Edmonton region will stabilize in the 7.5% range in early 2017.
- 2016 looked a lot like 2015 when it came to Real Estate – Strong prices, high inventory, dipping sales
What Was The Outcome For The Edmonton Real Estate Market In 2016?
What Are The Predictions For The Edmonton Real Estate Market In 2017?
So, what exactly does this mean? We are feeling optimistic about the market. It is a great time to invest in Edmonton real estate. That being said, remember, this only tells one aspect of the story, since this is only a general overview of the entire city. Each neighbourhood in the city will have it’s own story to tell. The good news, is that the TruHome team has a full time data scientist on our team to better evaluate the market to provide more in depth data and advice.
Interested in discussing your unique home buying and selling needs, be sure to connect with us today.
