Central Alberta sales in the first two weeks of May kept pace with the same period in April, but Red Deer sales didn’t. The number of active listings is up in every market we track except Blackfalds which remained steady. Generally, inventories in central Alberta are well below last year’s levels. Lower inventory levels means movement toward a balanced market and less choice for homebuyers, although it is still a buyer’s market in most price ranges.
We have noticed more activity and a higher confidence level in the last few weeks and are hoping it will translate into firm sales going forward. Recent decisions by the Senate on Bills C69 and C48 have the potential to further boost confidence in Alberta. On a gloomier note, the Bank of Canada seems convinced the mortgage stress test is still appropriate for the whole country which probably means the federal government will leave it in place. That makes it more important than ever for the Alberta government to see what they can do here.
