Where Do Prices Sit In Central Ab

People are asking, “what are real estate prices doing in Central Alberta.” Whenever there’s an economic concern such as an industry slow down or layoffs people are interested in how it effects the market.

With oil prices low and the oil industry slow there are less people working. Some have been laid off and others have reduced hours. This will, in turn, cause the people directly effected to hold off on their property buying and selling.

What will also effect the market is the caution everyone takes based on the less than positive news. If less people are buying and the same number of homes are listed for sale, prices will go down. What also contributes to a price decrease is higher inventory numbers. Even if buyers remained the same but available homes for sale increase, prices would decrease. It’s an example of supply and demand.

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