Quarter 1 2018 (Jan-Mar) is over. Just don’t look outside or you may think it’s Christmas…
While I loathe to blame how we feel on the whims of Alberta weather, the long winter is certainly putting a chill on the mood of buyers and sellers in the Lethbridge real estate market. However, can we really attribute the longer trend of a continued pullback in local real estate sales …on snow and ice? I’m not so sure.
It has been said that Canada is in constitutional crisis right now. I suggest we may be heading into an economic crisis of proportions not seen in decades in Alberta. I hope I am wrong. Given the drop in sales accross the country – indeed Calgary continues to feel major pain in the real estate market – one has to wonder if confidence by both investors and homebuyers and sellers on the ground, is taking a beating.
During the life of this propaganda blitz against Alberta industry, where was the voice and backing of Canada’s most frequent frequent flyer denouncing the fusillade of half-truth and full-bore falsehoods aimed at killing the central element of the Canadian economy? (Energy underwrites all.)
~ Rex Murphy: Trudeau still gives green fanatics cover as they strangle Trans Mountain, National Post, April 10, 2018
What should we pay attention to in the months to come and what does this mean for Lethbridge real estate consumer?
CITY OF LETHBRIDGE REAL ESTATE MARKET STATS: 2018 Q1
Average price: $302,331 (down 1%)
Last year: $305,490
Sales: 230 (down 7.8%)
Last year: 255
Cumulative days on market: 81
Last year: 90
Average price: $194,939 (down 1%)
Last year: $196,836
Last year: 45
Cumulative days on market: 119
Last year: 83