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.
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