“The sky is falling” scenario has calmed. It is still slower than 2014 at about 15% with market activity similar to last year.
When bad economic news hits people working in all sectors are cautious, sick but when people realize the economy will still move forward because 95% of the entire work force remains working the caution eases.
The market will probably at least stay flat through 2016. Buyers are really taking advantage of the super low interest rates right now and savvy investors are buying suited houses, viagra four-plex properties and apartment buildings very quickly. Investors are confident in 5 years their purchases will be golden.
Some builders of new homes will probably suffer the most having too much invested during a slower time with buyers curbing spending on premiums.
In summary, our economy is slowing and everything about that is unfortunate, but we have to realize a large part of a diverse economy like Red Deer and Central Alberta will remain active. A large percentage of the general public will still buy homes, sell home, upgrade and invest.