REALTORS Association of Edmonton released August statistics yesterday and compared to the picture painted by the Canadian Mortgage and Housing Corporations predictions of 2013, it was a confusing image.
In the previous post, the CMHC said a moderate growth would continue through 2013, but the latest statistics from the RAE have shown a bit of a slowdown in residential properties.
Sales of residential properties in August, single family detached home and attached homes, were down 17.4 per cent from July and 10.7 per cent from August 2011. A total of 1,430 residentials were sold in August.
Contributing to that though could be the amount of homes listed for sale, which dropped 2.2 per cent from July and 5.6 per cent from a year ago, according to the Multiple Listing Service. The available inventory is now at 7,458.
In the report, REALTORS Association of Edmonton president Doug Singleton said:
“Housing sales across Canada have dropped slightly since May. The sales activity varies from market to market and it appears, when compared to last year, that Edmonton is slowing faster than the national trend after a very active spring. Never-the-less, housing prices are still up from a year ago and consumer confidence is high.”
Consumer confidence has been un-wavered in the fact that more home were sold over $500,000. That number is up from 15 per cent compared to 11 percent last year. Singleton says it’s “an indicator of consumer confidence and a long term view this market is stable.”
For more information on homes and houses for sale in Edmonton, Alexis Hladly is there to help with any answers that’s needed.
