May 2016 home sales in Red Deer, Alberta are up 1% over May 2015! Considering that the last two months (March/April) where down an average of 17% this is positive news.
I wrote a post in February about consumer confidence improving with people realizing the ‘sky didn’t fall…” The real estate market has slowed in 2015/16 but it never “crashed” like people predicted. Most people are starting to realize we have a very diverse economy in Central Alberta and that helps keep the keel even.
Will the sales increase we witnessed in May 2016 continue through the year? There is no way to tell but I feel sales will be better than the negative double digit percentage drops we’ve seen during the last 12 month. Keep in mind, sales are up 1% over the same month last year but they are still 16% lower than May 2014.
Time will tell how things go and I look forward to posting June sales numbers when they’re in.