In The News: Alberta Housing Inventory Levels Decline
Things started to shift in the Edmonton and Calgary housing markets this winter.
- Sales have been consistent, but the supply of new listings coming to the market have declined.
- Edmontons rental market has improved, which means a lot of folks are choosing to rent out their extra properties instead of selling.
- Net migration has improved, which means there are more people to occupy the oversupply of houses that we have seen for the last little while.
- As the market continues to shift, we will see the Months of Inventory (currently at a 7.0) make a downturn towards 3.5.
- Year-over-year, we have seen about a 1.9 reduction in Months of Inventory in Edmonton.
- If you're selling to upgrade, you probably want to take a look at the market! As your resale value increases, so do the house's that you have your eye on.
- If you're looking to sell to downgrade, we are starting to turn in the right direction!