Canadian Contractor

Alberta housing market hit hard by Covid-19

Home prices are dropping in the province's key markets


April 22, 2020
By Rob Blackstien

The Covid-19 outbreak — combined with oil prices plummeting — has really hurt the Alberta housing market.

While sales in Calgary were actually up year-over-year in Q1, the average home price dropped by 0.1 per cent. Things were worse in Edmonton, with prices dropping 1.4 per cent year-over-year.

Even if the economy resumes by the end of Q2, Edmonton prices will probably drop around 1 per cent for the year, and if the economy remains stalled until late in the summer, prices will likely plummet 3 per cent.

Alberta contractors, how are things looking for you right now? How has the softened market affected you?

Advertisment


Print this page

Related




1 Comment » for Alberta housing market hit hard by Covid-19
  1. Murray says:

    ‘Plummet’ 3 %?? How about a 30% drop in Calgary in 1980’s? That was a plummeting. 3% is a blip.

    My brother had a house worth $100,000. Dropped to under $70,000 in months. Walked away from it, and bought an identical house down the street for $68,000.

    Ouch.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.