Sales in Red Deer in December were down compared to November & definitely up from the same time the year before. 2017 has predominantly been in a Buyer’s market & a good number of buyers have taken advantage of the depressed property values.

The Alberta economy grew at more than 4% in 2017 which means that we are moving ahead of our initial slump in 2015 and 2016. The economy is predicted to grow again in 2018, but at a reduced rate of about 2%. We may not experience a major upswing in the economy this year, but it doesn’t hurt to be optimistic for 2018 activity levels.

Yes, more & more mortgage changes are leaving consumers on the side lines & slightly confused. Interest rates have the potential to increase even further this year. It is strongly suggested that potential buyers reach out to their mortgage professionals to find out where they stand. The market still favours the Buyer at this time & those who plan to sell this year should be listing their properties within the next few months.

Information Based on Red Deer Real Estate Board MLS® Stats 2013-2017

Posted by Jay McDouall on


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