The Lethbridge real estate market appears to be jumping for joy, right alongside Albertans cheering for the re-opening of our economy on July 1st. This is for good reason. Velocity in the market shows no signs of slowing down, as inventory remains low, and Lethbridge boasts the hottest real estate market in Alberta:
- Years of stagnant pricing mean we’re finally catching up on home values.
- A diversified local economy means unemployment has not been as severe as in the rest of Alberta.
- Buyers still have reasonable amounts of inventory to choose from without fear of overpaying (just over 2 months’ inventory in the city at time of writing).
- Interest rates remain historically low, with recent stress-test changes showing minimal impact on purchasing power in Lethbridge.
- Canadians are sitting on massive piles of cash that went unspent during the pandemic. Lethbridge has proven to be a safe place for real estate dollars.
In addition to the above market factors, the pandemic means that many are rethinking their lifestyles and life values, prompting big decisions on personal real estate. Albertans have the same real estate fever that has captivated the country, with the happy exception that they aren’t being forced to pay extreme premiums of many other markets. Watch my video below for a detailed analysis of the numbers!
If you’re thinking of making a move, today’s market is literally as good as it gets. Contact us for a confidential consultation to get started!