Historically Low Home Prices in Alberta

The Edmonton Journal reported recently that Alberta was not part of the national surge in the prices of Canadian homes.

According to the Journal, prices of homes in Canada rose 5.7 – 7.8 percent this year when compared to the same time last year (the 3rd quarter of 2011).

More homes were traded in Alberta than other areas of Canada but the prices of these homes did not increase.  Alberta has actually been seeing a combination of historically low borrowing costs and home prices.

Ken Shearer from Royal LePage Noralta Real Estate noted that “renewed investment in the energy sector has made finding employment in Alberta attractive, resulting in an increase in real estate activity from provincial immigration.”

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