Is buying a home becoming less affordable in the province of Alberta? Throughout most of the pandemic, price growth has been subdued in the likes of Edmonton and Calgary.
However, the Alberta housing market started the new year on an upswing that has continued in recent months, with a revival in prices and sales activity.
Meanwhile, months of inventory, which measures the number of months it would take to exhaust current supply at the present rate of sales activity, plunged 42.4 per cent to 2.77.
The primary objective became to assist middle-income Calgarians to purchase a home.
While many major urban centres and small towns became out of reach for prospective homebuyers, Calgary and other parts of Alberta favoured them.
“The Calgary and Edmonton markets shifted from balanced conditions in 2020 to seller’s markets in 2021, which brokers and agents in the region expect to continue into 2022.
For now, rock-bottom interest rates, ample stocks, and prices below the national average are allowing many Canadians to buy homes.
RE/MAX has always been an industry leader, adopting the latest technology and creating innovative marketing programs. RE/MAX was the first brand to expand its reach world-wide through a revolutionary global listing site, featuring listings from more than 80 countries, displayed in over 40 languages.