Last month in July we witnessed the largest drop in Red Deer home sales in years. When that happens it can cause worry form Realtors®, buyer and home sellers. However, we can rest a little easier with August 2016 single family home units sold only 14% lower than last year.
14% lower sales is still not good but probably as good as we can expect with the economy in it’s current slow down. Sales this year are down a total of 12% over 2015 but I think most people expected worse. There are still people needing to move, new buyers entering the market and people effected less by the specific economic slow down. The current market is still 88% ‘business as usual’ over last year.
After a large drop in July and a moderate drop in Aug (close to this year’s average) it will be interesting to see what happens in Sept 2016…
Sellers note: The slow down in sales has left us with more properties for sale during the summer months and listing numbers over shadow sales week after week. I tell potential sellers, “if you don’t have to sell right now don’t. With so many homes on the market and so many more hitting the market each week, your sale price might be low.”