2014 has been a good year for Alberta. It has been the leader in economic growth across all Canadian provinces. Alberta’s energy production and development has been the key driver in this strong economic performance and will continue to push Alberta’s growth in the coming years. The Canadian dollar being low this year also helped increase the value of our exporting energy and that has helped the provincial government have a surplus in it’s operating budget this year. Alberta has definitely benefited from it’s fast growing population, which is primary due to the people that move to Alberta for it’s employment opportunities. In 2014 Alberta had the highest growth rate in employment out of all the provinces. The new housing market in Alberta was projected to rise by 4% to 19,300 units and is predicted to remain relatively stable at 19,200 unit in 2015 and 19,000 in 2016. In the resale market, the new listings are rising and projected to continue growing. In 2014 the average MLS sales price in 2014 was projected to rise 4.7% to $398,900, and it is looking to continue increasing to $407,800 in 2015 and $417,500 in 2016. The increases in the MLS sale prices will create competition for the new home builders and will ultimately provide consumers with more options.

Edmonton has recently been hyped as one of Canada’s hottest residential markets for investors in recent weeks and has also been recognized as the top residential market based on potential growth and economic development. Edmonton had seventeen homes in the previous month sell for over 1 million dollars. Edmonton’s current REIN score which is based out of a possible 50  is currently standing at 45. The REIN score is based on such things as how well a city deals with factors such as job creation, population growth, post-secondary education and city infrastructure. As well it’s yield for potential growth, housing to rental ratio and how much rental increase potential. Edmonton topped the list just beating out Calgary by 1 point. Meanwhile, other cities that were high on the list were Fort Saskatchewan at 43 out of 50 and St. Albert came in at 39 out of 50.

If you are looking to get into the real estate market as an investor call Norm Cholak today at 780-991-1313 to have him help you buy or sell today!

Today I removed conditions on a property in Lee Ridge in Mill Woods with my first time buyer Rob, who was referred to me by his parents who have been my clients in the past. I had a great time working with Rob on the search for his very first home. Even after 26 years in Real Estate I still find it exciting to help clients make the leap from renting to ownership. If you are ready to take the same leap into the Edmonton Real Estate market, then give me a call at 780-991-1313. Helping you is what I do!