Less than an hour commute to the city.Lake living offers many benefits for a richly rewarding a life that includes outdoor water and land recreationRather than looking at lake living as another
Edmonton's Housing Forecast for 2023
Dated: January 26 2023
Views: 77
Welcome to 2023!
Edmonton's Annual Housing Forecast is behind us.
What did we learn?
Regarding the economy and inflation we see that the Bank of Canada's response is raising rates (7 increases in 2022). This was a huge contributing factor to the market cooling in the back half of 2022. The speculation is that we will see one more increase in the Prime Rate that lands us at 4.5%. From every indication this is where things will sit for the majority of 2023. The X Factor in all of this is consumer spending. If consumers pull back we could be looking at a recession. Only time will tell.
So what does 2023 look like? All the stats are negative looking forward. Less sales, less listings, less money for your home. If you simply look at it in this light we see some gloom and doom in our outlook. This is a result of the COVID effect that influenced the market in 2021/2022. If we remove those years as anomalies then 2023 is looking like we will see market stability.
When we examine trends we see that single family home starts are trending down along with sales. Buyers are looking at townhouses and apartment style homes rather than the typical urban home with a picket fence.
New to market buyers are not focussed on the forever home anymore.
Maybe the best way to look at this market is the adage of
'Rather than waiting to buy Real Estate, Buy Real Estate and wait'
Real Estate is still a good investment.
If you are thinking of buying or selling this year give me a shout!
Kelvin Vandasselaar
"It's harder than it looks" Being a great REALTOR® is about providing value added service that ensures you are comfortable with making what will probably be the biggest financial decision you will f....
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Information last updated on September 22, 2026 8:15 PM UTC