Our Takeaways From the Housing Forecast

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!

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