Category: Uncategorized
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Affordability: Alberta’s Top Priority
The Alberta government is prioritizing affordability with measures to reduce the cost of living. They introduced the Affordability Action Plan and Taxpayer Protection Act to control taxes and spending.
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Edmonton’s Housing Growth Shows Potential
Housing sales in Edmonton ↑146% between 2020-2024. Edmonton outpaced most Canadian cities in housing sales growth over the last 4 yr.
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How to Find a Buyer’s Agent
Speak to friends, local business owners, and check for "sold" signs in desired neighborhoods.Look for agents who’ve successfully closed transactions in the area where you’re looking to buy.
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Mortgage pressure not likely to unhouse many homeowners
A new survey reveals that downsizing, upsizing, and relocating are the main reasons homeowners consider selling. Market timing is crucial for achieving desired sale prices, according to 23% of respondents. Financial strain is a less common reason for selling, with only 11% citing unmanageable mortgage payments. Downsizing is the top reason at 37%, followed by…
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Live Large on a Budget: Alberta’s Affordable Cities
A new report has detailed the top four most affordable major cities in Alberta. Red Deer: Ranked 3rd in Canada for affordability (25.7% of income for mortgage), with average home price of ~$393K.
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Alberta Surpasses Record for Home Construction in a Month
Alberta started construction on over 4,100 homes in May, marking a record high for any single month. Alberta achieved the highest number of new home starts in a single month on record.
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$400K Budget? Homebuying in Affordable Alberta Markets
Alberta dominates the list of the 23 most affordable housing markets in Canada in 2024. Avg Home Prices: – Alberta West: ~$462K – Central Alberta: ~$380K
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Alberta Rents on the Rise: Bucking the National Trend
Alberta rents continue to climb despite stabilization in other parts of Canada. In Alberta, the avg listed rent price ↑ 17.5% yearly to sit at $1,787 in May 2024.
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Save on Housing: 2 Alberta Cities!
1. Red Deer in Q1 2024: – House price: $392,900 – Monthly mortgage payment: $2,050v- Household income: $95,900 – Affordability Factor: 25.7%
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Would-be homebuyers are still staying on the sidelines in Canada.
New data from the Canadian Real Estate Association shows a 5.9% decrease in home sales compared to last year. Higher interest rates are expected to limit sales and pressure housing prices. The impact of these rates is still affecting the market, with challenges for both homeowners and new residential construction. Despite speculation of further rate…