Strangely enough, this year we are seeing home sales fall behind 2017 numbers. Not by much, but January 2016 was 4% lower and February is 5% lower than 2017. Why is this happening when the economy should be gaining momentum?
Even though the economy is recovering, it takes a recovery before a real estate market benefits. People have felt the slowdown with reduced saving and increased debt. A large portion of the population will put themselves in recovery mode to work hard and stabilize their financial position before taking on life’s larger purchases.
There is some good news. Central Alberta homes sales on a whole are actually higher than January and February 2016.