Check out our Complete Home Buyer’s Guide so we can walk you through the end-to-end process and get you ready to buy your new home! Edmonton Realtors Association 2020 Real Estate Forecast – By Alison Murray Edmonton Realtor– Cautiously Optimistic Posted on February 18, 2020 by Alison Murray, Edmonton Realtor REMAX Since I began my career as an Edmonton Realtor 15 years ago, I have been attending our annual Realtors Association of Edmonton Forecast . There is no consensus among economists. Great chance to talk real estate, review the recent past, and look into the year to come. As many of you know we have been experiencing a strong buyer’s market in Edmonton for quite some time. realtor was caught with hundreds of thousands of dollars in her closet at home, report says Alberta is to blame for most of Canada’s money laundering, no evidence of a diminished role for dark money in local real estate, Data indicates that more Canadians are missing their monthly payments, survey by MNP reported a staggering number of Canadians are stretched to their limits, CMHC can help Canadians via Canadian lenders by refinancing mortgages, Ninety-six percent of Canadian oil is exported to U.S. markets, United States has not managed the pandemic well, Nanos Canadian Confidence Index has shown a noticeable drop in confidence, 45 percent of Canadians surveyed in October believed home prices in their neighbourhood would rise, Several vaccine candidates have reported promising results, We’ve identified several types of homeowners who should look seriously at selling during the pandemic. Want to learn more about real estate risk? Reimposition of restrictions will likely depress sentiment. As more buildings complete in 2021 and 2022, and people move out of their rental or sell their current home, this new supply should help maintain a balanced market. The number of new residential listings is up year over year, increasing 14.75% from October 2019. Canadians continue to follow health policy guidance and wear masks and continue social distancing until enough people are vaccinated to provide herd immunity. Pre-Sales and Construction Completions: Most new homes are sold via pre-sales before the construction has started. We match you with local, pre-screened, values-aligned Realtors and Mortgage Brokers. This report's home price data evaluates sales history between November 06 - December 04 and includes percent changes from the same 28-day period last year. As well, when it comes to financing, don't bite off more than you can chew. CMHC, the government housing agency, predicts a ‘peak-to-trough’ drop of between 6% and 19%. The highest forecast in a September Reuters poll of 16 economists was price growth of 10% in 2021, while the lowest prediction called for a 10% drop. This is intended to help lower housing prices, but the experience in British Columbia shows that foreign ownership taxes and foreign purchaser taxes don’t conclusively lead to lower home values. Government intervention in the market has successfully shielded the real estate market from the pandemic induced recession. Summary: National home sales edged back 0.7% on a month-over-month (m-o-m) basis in October. This space is dedicated to some of … The Alberta Treasury Board and Finance's Chief Economist and Executive Director, Catherine Rothrock discusses the state of our province's economy as well as national & international indicatorss. Looking forward to 2021, some forecasters expect prices to continue rising while others expect prices to drop. 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