Market Report: March 2020
Has COVID-19 Impacted the Housing Market in Alberta?
Calgary, AB – March sales activity started the month strong, but the spread of COVID-19 and the dramatic drop in energy prices has caused an abrupt downturn in the demand for housing by the middle of the month, causing provincial sales to decline by nine per cent.
“This is an unprecedented time with a significant amount of uncertainty. It is not a surprise to see these concerns also weigh on the housing market. The impact on the housing market will likely persist over the next several quarters,” says Ann-Marie Lurie, AREA Chief Economist. “However, measures put in place by the government and lending institutions, to help support homeowners through this time of job and…