Market Watch

AUGUST 2017 Recap

One month doesn't make a market, but the improvement certainly suggests we are turning the corner. There haven't been any highly visible events that point to the change, but strong GDP growth in both the Canadian and Alberta economies suggest there is potential for continued recovery. Unfortunately, a strong Canadian economy may cause another bump in the Bank of Canada rate which will trigger another jump in mortgage rates. Tougher mortgage qualifying requirements imposed by the federal government combined with a rate increase would be detrimental to our fragile housing market recovery.



RED DEER
August sales in Red Deer hit the highest single monthly total so far this year, while the number of active listings fell slightly compared to last month, bringing the market close to balance. Sales across central Alberta were also better in August, bringing year to date sales in line with the same period last year.






LACOMBE
August sales in Lacombe were up slightly from July's, while the active listing count is down compared to last month, moving the market a little closer to balance. Sales in most other central Alberta markets were also better in August, bringing year to date sales in line with the same period last year.






BLACKFALDS
August sales in Blackfalds were down slighty from July's, while the active listing count is up a little compared to last month, moving the market further into buyer's territory. Sales in most other central Alberta markets were better in August, bringing year to date sales in the overall central Alberta market in line with the same period last year. 




SYLVAN LAKE
August sales in Sylvan Lake were up slightly from July's, while the active listing count is down compared to last month, moving the market a little closer to balance. Sales in most other central Alberta markets were also better in August, bringing year to date sales in line with the same period last year.






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: