Each month we post sales numbers and compare them to the same previous years. Since 2014 we’ve seen sales numbers decrease year after year and based on the current situation we will probably see them decrease a bit more.
At the start of 2020, we were seeing signs of improvement that we hadn’t witnessed in a while and I was starting to think, ‘with no foreseeable economic speedbumps the Central Alberta real estate market might begin a turnaround.’ However, we’re all familiar now with the unexpected matter that snuck up and stopped us in our tracks at the end of 2020’s first quarter – the Coronavirus.
The March home sales numbers for Red Deer were down 4.7% overall in March but at the end of March, we’d only been introduced to COVID-19’s impact a little. Now in April, schools have been shut down and for the most part, everyone is staying home and keeping to essential tasks. Of course in a situation like the one we are experiencing now, we’d naturally expect fewer people than normal to be buying and selling real estate.
I don’t see a “crash” (like some people assume) during the months we are required to stay home and it will be due to exactly that. Most people will be staying home and people’s minds will understandably be on other things than real estate. It’s clear there will be less buying and selling of homes for the next few months and to see how it all rolls out, stop back in, we’ll continue to post Central Alberta real estate stats and info each month here at HomeScope.ca.