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Alberta residential real estate: Lots of choice for homebuyers

Homebuyers will be happy to know that they have lot of homes from which to choose this summer. Alberta's inventory when it comes to residential real estate is looking healthier than it has in a while. In fact, a local realtor says he has never seen so many homes on the market in the 15 years he has been in real estate.

The market is still posing somewhat of a challenge, but there is every indication that things are on the upswing.  There are a few little kinks in the market, however. Since there is so much inventory, people don't seem to be in such a hurry to decide on a purchase. Buyers are taking their time, much to the dismay of many sellers who want to see quick turnarounds. 

The market is expected to become even more active come this fall. Inventory should drop somewhat and buyers may choose to take advantage of possible lower prices all around the province. The Alberta economy has rallied, but it takes the real estate industry a while to catch up to the renewed confidence in the business world. 

Ultimately, however, the boost to the economy will have a positive impact on residential real estate in Alberta. Both buyers and sellers are likely to feel more confident in making large-scale transactions. The legalities that accompany real estate contracts can be complicated and may cause some confusion. Having a lawyer review any contracts before signing on the dotted line may save financial heartache down the road. A lawyer will always have his or her client's best interests at heart in any sort of contractual obligation.

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