Our Takeaways From the Housing Forecast
The news was good friends!
Here are our takeaways from this month’s housing forecast:
- Alberta has one of the top-performing economies in the county.
- Housing starts in our province are up 50% since April of last year.
- People WANT to own something, and want to own something that’s affordable, and something that works for their family.
- Over 90% of young Canadians surveyed by CREA said they aspire to own a home one day - Edmonton is one of the only affordable options left in the country.
- Duplexes are likely to be the most popular option for housing in 2024, (that is, in terms of new listings) - our real estate board is predicting a 9% increase over what was listed last year.
- Spruce Grove was the 3rd most popular area chosen for people to live outside of the Edmonton zone. Parkland County came in 5th! Woot woot!
- And the most popular item… the interest rate. All signs are pointing to a decrease in the interest come late Spring/early Summer. Fingers-crossed!
All in all - very positive. Alberta, and more specifically, the Edmonton area is positioned for stability & growth.
As always, if you’d like more information, or are curious to know how this might impact you, please send us a message. We’re here to help!