Alberta real estate buyers waiting for better interest rates: report

Dated: May 20 2024

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Greetings everyone, Anahid here.

I'd like to share a brief overview of an article I came across in The Edmonton Journal titled "Alberta real estate buyers waiting for better interest rates: report".  Enjoy the read.

Many Albertans in Canada are postponing home purchases, waiting for interest rates to decrease, as revealed by BMO Capital Markets' real financial progress index. The report indicates that around two-thirds of potential homebuyers in Alberta are holding off, citing concerns about living costs, inflation, and financial discomfort. Despite aspirations for homeownership, with 68% of Albertans aspiring to own a home, over half believe it's unattainable. While many plan to buy a home soon, fewer intend to do so in 2024, with a significant portion eyeing 2025 or later.

Despite economic stressors, most Albertans feel they're making financial progress. Yet, concerns about unexpected expenses and housing costs persist. Meanwhile, real estate sales in Alberta are surging, especially in Edmonton, with a significant increase compared to 2023. However, while some Albertans wait for lower interest rates, prices continue to rise. With inventory decreasing and sales climbing, the longer they wait, the more they'll likely pay for properties.
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Anahid Shahmoradi

Your Dreams, My Dedication - Real Estate With Compassion and ResultsWith a wealth of knowledge in real estate and home staging, I specialize in helping buyers and sellers navigate the Alberta real est....

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