Edmonton Real Estate - Alberta – Vibrant, under control, and affordable: what’s not to like?
Alberta’s housing markets continued to be among the stronger ones in Canada,
supported by a booming economy, rapidly rising population, and attractive
affordability. First-quarter home resales were 9.0% above the 10-year
average, which contributed to keeping demand-supply conditions fairly tight
in the province’s largest markets. Activity stabilized in the past two quarters,
however, thereby indicating that trends remain under control with few signs
of overheating. While generally up solidly from a year ago, home prices
were tame in the first quarter. With no added pressure coming from prices,
housing affordability remained predominantly flat in the first quarter. RBC’s
measures rose only slightly by 0.1 percentage points to 32.6% for detached
bungalows and 0.4 percentage points to 20.2% for condominium apartments,
while the measure for two-storey homes was unchanged...