Alberta Real Estate market is seeing some changes that affects the BC market. Due to the price of oil, lay offs at some of the major companies, Alberta seller's are struggling to sell. They are taking early retirement packages, buy outs and now purchasing homes in BC that are primary residents, not recreational property.
New housing prices in Calgary remained flat for the third consecutive month as of October, according to a Statistics Canada report released on Thursday (December 10). The same report also noted that annual prices in the region went down by 0.6 per cent.
The report said that lower negotiated selling prices made up for building cost increases stemming from new Calgary regulations.
This is in stark contrast with the average new home price index (NHPI) nationwide, which rose by 0.3 per cent in October. According to Statistics Canada, increased prices in Ontario and other high-demand regions played a large part in this increase.