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Instead, by the end of 2021, the Canadian Real Estate Association's House Price Index had risen by 26.6%, the fastest annual pace on record. [50] Condominiums accounted for the bulk of new housing in BC (54%) and Ontario (59%), [ 51 ] and investors constituted an increasing share of the buyers of these units (41% in Ontario).
These 335 housing markets are at "high" or "very high" risk of falling home prices.
Homeowners are trimming prices to revive buyer interest, which has dropped off amid record price highs and elevated mortgage rates. The median home price fell 1.3% year-over-year, hitting $429,990.
The U.S. housing market has gotten so expensive that income would have to jump 55% to make buying ‘affordable,’ real estate executive says Sydney Lake October 9, 2023 at 7:36 PM
Central Alberta is bordered by the Canadian Rockies in the west, Southern Alberta and the Calgary Region to the south, Saskatchewan to the east and Northern Alberta to the north. It completely surrounds the Edmonton Capital Region and contains the central part of the heavily populated Calgary-Edmonton Corridor .
The Calgary-Edmonton Corridor is the most urbanized region in the province and one of the densest in Canada. Measured from north to south, the region covers a distance of roughly 400 kilometres (250 mi). In 2001, the population of the Calgary-Edmonton Corridor was 2.15 million (72% of Alberta's population). [51]
"We forecast house prices in 2023 to finish the year flat versus 2022 before falling 2% in 2024 as affordability continues to adjust slowly back to long-run averages and inventories begin a slow ...
Edmonton [a] is the capital city of the Canadian province of Alberta. It is situated on the North Saskatchewan River and is the centre of the Edmonton Metropolitan Region, which is surrounded by Alberta's central region. It anchors the northern end of what Statistics Canada defines as the "Calgary–Edmonton Corridor". [13]
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