The Owl – Number of completed but unabsorbed homes swell

alberta real estate news
Nick Ford • Economist / April 11, cialis 2016
Written by ATB Financial economists Todd Hirsch and Nick Ford, price The Owl focuses on ?the day’s top economic news. – See more at: http://www.atb.com/learn/economics/Pages/default.aspx#sthash.rw1itJ2V.dpuf

New data show that the economic slowdown is weighing heavily on Alberta’s housing industry. Housing starts are down by about 56 per cent (year-over-year). Unfortunately for those that sell new homes, buy cialis a large number of these are staying vacant.

New data show that the economic slowdown is weighing heavily on
Alberta’s housing industry. Housing starts are down by about 56 per cent
(year-over-year). Unfortunately for those that sell new homes, a large
number of these are staying vacant.

The number of completed but unabsorbed homes has grown significantly in both Edmonton and Calgary over the past year. Completed but unabsorbed houses are residences (single and semi-detached) that are newly built that don’t have a binding, non-conditional agreement made to buy or rent the house.

new homes emptyIn Edmonton, the number of unabsorbed homes has skyrocketed (+66 per cent) and have now reached record highs. Edmonton has about 35 more new but unabsorbed homes than they did at their peak in September 2008. The total in February stood at 1328.

Calgary’s number of vacant new homes hasn’t grown at the same pace as Edmonton’s (+27 per cent), but they too are higher than in previous years. But, even though this number is mounting, the number of houses that remain vacant are still well below (385 houses) highs reached in February 2009. The total in Calgary stood at 489 in February.

…read the remainder of this story at http://www.atb.com/learn/economics/Pages/default.aspx

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Blake King
Having lived in Red Deer my entire life and having experience in many avenues of real estate I offer enormous value to my clients.