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Residential real estate on the upswing in Alberta

Canada's real estate market continues on a strong front, posting gains in the second quarter of this year. Alberta seems to be leading the pack in terms of residential real estate sales. The statistics, provided by a major real estate brokerage firm, point to a continuation of the same in the second half of this year with Alberta sales definitely on the rebound from an economic downturn.

There seems to be a provincial balance taking shape in the country. Some scalding markets, like those in Toronto and Vancouver, are becoming more tepid, while those that have been depressed, like Alberta, are beginning to rebound. This makes for a very healthy overall real estate market in the nation.

Residential real estate tends to take a beating in recessionary periods. Alberta is crawling out of a recession and back into the swing of things in terms of the housing market. In fact, some forecasters predict that Alberta will lead the way in Canada in growth for the rest of this year and next.

As the employment situation improves, so does the overall economy, which puts more Albertans in the market to purchase residential real estate. The outlook is especially bright for Calgary, with the Conference Board of Canada predicting the city will add more than 8,000 jobs this year and more than 10,000 in 2018. Those numbers were mirrored in the housing market in the second quarter this year.

Those who find the market more hospitable and are thinking about purchasing or selling a home would do well getting the advice of an experienced real estate lawyer. A lawyer will provide both buyers and sellers with the information they need to make the right decisions. A lawyer will also aid in getting purchasers and vendors the best deals possible when it comes to residential real estate transactions.

Source: newswire.ca, "Canada's Residential Real Estate Market Makes the Move to Moderation in the Second Quarter of 2017", Accessed on July 13, 2017

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