The more things change, the more they stay the same. Lethbridge is no exception. I mean that in the most affectionate way possible of course…
Real estate is always about supply and demand. As such, Lethbridge remains a buyer’s market almost across the board with homes in the $200k-$300k price range a notable exception at just over 5 months’ inventory. Builders continue to pull back on single-family permitting; YTD permits for January through April are down 35% versus the same period last year. This should help support home values going forward if the builders allow for some market ‘cleanup’ in 2019. We are also seeing some strength in terms of overall sales activity and pricing this year versus last year but that could simply be the market normalizing after a couple of difficult years.
If Alberta’s new conservative government can make good on its promises, we may turn a corner on economic stability and investor confidence. Watch below for further insights on what’s new (and what isn’t) in Lethbridge real estate!
PS: Apologies for the video ‘jitter’ that starts about halfway through on account of technical difficulties. I usually do these in one take, so what happens during the Facebook Live recording is what you get here 😉