Home sales down in January

Central Alberta January home sales were down almost 23 per cent from a year earlier as the oil price slump made its presence felt. “The sharp slowdown from very strong levels just one month earlier closely mirrors activity in the rest of the province, as low oil prices have shaken consumer confidence,” says Central Alberta Realtors Association president Lorna Moore in her monthly update released on Thursday.

Central Alberta January home sales were down almost 23 per cent from a year earlier as the oil price slump made its presence felt.

“The sharp slowdown from very strong levels just one month earlier closely mirrors activity in the rest of the province, as low oil prices have shaken consumer confidence,” says Central Alberta Realtors Association president Lorna Moore in her monthly update released on Thursday.

Across Alberta, sales were down 28.2 per cent from January 2014.

In Central Alberta, 202 homes were sold last month, compared with 260 a year earlier.

In dollar terms, the $62.8 million spent on housing is down 23.3 per cent.

New residential listings are up 25.5 per cent to 709 from 565. Active listings are at 2,007, up only four from a year ago.

“There were 9.9 months of inventory at the end of January 2015, up from 7.7 months reported at the end of January 2014 and above the long-term average for this time of year,” says the association. These numbers reflect the amount of time it would take to sell current inventories at the present rate of sales activity.

Central Alberta has just come off a strong year for sales, last month’s year-end statistics showed.

In 2014, sales of single-detached homes in Central Alberta through the Multiple Listing Service were up nearly 11 per cent over 2013, jumping to 3,465 from 3,133.

Just Posted

Growing drug-fuelled emergencies at Red Deer’s Buffalo transitional housing complex

City council approves two additional mental health staffers at complex

‘We’re going to have a deal very soon’: Staff briefed on possible ServiCom buyer

SYDNEY, N.S. — The sudden closure of a Cape Breton call centre… Continue reading

Equalization protests from Alberta likely pre-election talk: Quebec minister

OTTAWA — Quebec’s finance minister brushed off complaints from Alberta on Monday… Continue reading

Car thefts on rise in Canada as thieves target trucks, SUVs: insurance board

TORONTO — A new report says choosy car thieves are setting their… Continue reading

Fenced-off SCS site development approved by Red Deer city council for seven years

‘Sunset clause’ means a new permit will be needed in 2025

Orlando SC acquires Canadian Tesho Akindele in trade with FC Dallas for cash

ORLANDO, Fla. — Canadian forward Tesho Akindele was traded to Orlando City… Continue reading

Koskinen notches third shutout, McDavid gets winner as Oilers blank Flames 1-0

EDMONTON — The Edmonton Oilers appear to have shored up their defence… Continue reading

Beyonce performs at pre-wedding party in India

Beyonce brought her star power to a pre-wedding party for the daughter… Continue reading

Kirk Douglas celebrates 102nd birthday

LOS ANGELES — Actor Kirk Douglas got to celebrate his 102nd birthday… Continue reading

Ellen Page steps up attack on Nova Scotia pulp mill’s effluent pipeline

HALIFAX — Hollywood actor Ellen Page is doubling down on her criticism… Continue reading

Pence aide out of running to be Trump’s next chief of staff

WASHINGTON — President Donald Trump’s top pick to replace chief of staff… Continue reading

Swath of South faces wintry mess: Snow, sleet, freezing rain

CHARLOTTE, N.C. — A massive storm brought snow, sleet, and freezing rain… Continue reading

‘I killed my best friend’: Opioids’ fatal grip on mayor, pal

MOUNT CARBON, Pa. — Janel Firestone found her son — the 24-year-old,… Continue reading

Most Read