Archive for June, 2015

Market Update: June 1, 2015

Tuesday, June 16th, 2015

Lacombe sales continued a strong pace in May while the number of active listings remained stable and kept the relationship between supply and demand balanced.  The market was exceptionally active in the middle of the price spectrum – from $300,000 – $450,000.  It appears that some local owners are taking advantage of a bit slower high end market to move up.

In most of the central Alberta communities we serve, the market is slower compared to last year.  However, comparisons between the 2014 and 2015 markets can be a little misleading.  The 2014 market was the busiest since 2007.  In fact, the active listing and sales counts this year are quite normal when compared with 2012 and 2013.  We don’t want to minimize the impact that lower oil prices have had on the economy, but so far we aren’t seeing it in a large way in the housing market.

Since dropping to about $45/barrel, oil prices have recovered to the $60 range.  The consensus among the experts seems to be more of the same for the rest of the year with a slight improvement in 2016.  The one thing that isn’t clear is how that will impact our economy and the housing market.  It certainly won’t be as bad as it would be with $45 oil, but it would be foolish to assume that it will be as good as it was last year.  We are looking forward to a stable market for the rest of the year.

#1, 5265-45 STREET, Lacombe, Alberta, T4L 2A2
Tel: 403-782-4301 Fax: 403-782-2285
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