Market Watch

December 2017 Recap

The Alberta economy grew at more than 4% in 2017 which means that we made up some of the ground lost in 2015 and 2016.The economy is predicted to grow again in 2018, but a little slower at about 2%. It's likely those two years of growth will contribute to a more stable real estate market. No one is predicting a boom, but it is highly possible that prices have hit bottom.

There are signs that interest rates have the potential to increase some more over the next year. Combined with the new mortgage rules, that could make it more challenging for buyers who wait. Predicting the future is a fool's game. The only way to know the market has turned is to see prices going up, which means you've missed the bottom.

We know that owning a home is one of the best investments you can make. For those who are thinking about buying their first home or moving up, the signs suggest that now might be the opportune time to act on those thoughts.


RED DEER
Sales in Red Deer in December were down compared to November, but up compared to December 2016. The number of active listings is down but still substantially higher than this time a year ago. The supply of homes relative to the demand in 2017 has kept the market firmly in buyer's territory and some buyers have taken advantage.





LACOMBE
Sales in Lacombe in December were down slightly compared to November, and down substantially compared to December 2016. The number of active listings is down but still higher than this time a year ago. The supply of homes relative to the demand in 2017 has kept the market firmly in buyer's territory and some buyers have taken advantage.




BLACKFALDS
Sales in Blackfalds in December were up slightly compared to November, and down slightly compared to December 2016. The number of active listings is down but still substantially higher than this time a year ago. The supply of homes relative to the demand in 2017 has kept the market firmly in buyer's territory and some buyers have taken advantage.





SYLVAN LAKE
Sales in Sylvan Lake in December dropped dramatically from November, and were also down compared to December 2016. The number of active listings is down but still substantially higher than this time a year ago. The supply of homes relative to the demand in 2017 has kept the market firmly in buyer's territory and some buyers have taken advantage.





SUMMARY





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Kim Fox RE/MAX 
4440 49th Avenue  Red Deer,  Alberta  T4N 3W6 

Mobile: (403) 506-7552 Fax: (403) 343-3085 Email: