Edmonton Market Outlook 2011 CMHC
Home Sales below Historic Levels
Sales in Edmonton’s existing home market will decrease by 18.5 per cent this year to fewer than 15,600 units. This performance will mirror the previous low point reported in 2002 and is well below the ten-year average for sales from 2000 to 2009 of around 17,750 units. With buyers’ market conditions expected to persist into the early months of 2011, look for improvements to be modest, with total sales close to 15,850 units. Many prospective buyers will delay purchasing until they are convinced prices are no longer moving lower. While sales should improve in the second half of 2011, they will be restrained firming prices.
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