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Real estate could rebound in 2020, Zoocasa predicts

by Troy Media | Jan 6, 2020

The online-based firm predicts 2020 sales of 52,300 to 56,900 units and average prices of $379,700 to $383,400 across the province

But single-family detached housing starts were down in January

But across Alberta, building permits were on the rise thanks to a very strong non-residential push

Greg Mills of the fully-integrated real estate company sees a bright future for the province as his company continues to expand here

Starts were down 28% in the Calgary region and off by 40% in the Edmonton region and across the rest of the province

In 11 major centres across the country, prices were flat in September compared to August but rose by 2% year over year

StatsCan said builders in 18 of the 27 census metropolitan areas across the country reported flat or decreasing prices in August

Total starts across the province were down 24%, 9% in Calgary and 45% in Edmonton

Both cities fared better than Vancouver, Toronto and Montreal when it comes to the share of income needed to cover ownership costs

Sales in the existing home market were down 7.8 per cent year over year in Calgary and by 2.6 per cent in Edmonton