If you’re looking for a perfect place to call home, Lethbridge may still be one of the best-kept secrets in western Canada. In the Conference Board of Canada’s “Mid-Size Cities Outlook 2013,” Lethbridge fared very well versus many other cities that are still struggling to recover from the recession:
The Conference Board highlights eight urban success stories where average annual job growth was at least three per cent per year between 2005 and 2012 [… including] Lethbridge, Alta., which the Conference Board credits with “relatively consistent” annual economic growth since 2007.
~ CBC.ca, Half of Canada’s Mid-Sized Cities Yet to Recover from Recession, May 6, 2013
Lethbridge also continues to offer the most affordable real estate within the economic powerhouse that is Alberta (http://creastats.crea.ca/area/). This is great news for buyers but perhaps not-so-thrilling for owners who haven’t lived in their homes long enough to see any real market appreciation in recent years.
Overall, Lethbridge is a stable and growing economic centre with a bright future. Whether we will see any fundamental shift in real estate prices remains to be seen. Price increases (or decreases) are dependent on real and lasting shifts in population, employment, incomes, economic output, and of course, the almighty interest rate.
Below you can view the full Special Report: Lethbridge Real Estate Single-Family Snapshot 2013. This report is my compilation of key real estate indicators for the City of Lethbridge, with MLS® System stats focusing predominantly on the single-family home market. If you have any questions, don’t hesitate to leave a comment or get in touch with me directly!