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2018 Central Alberta real estate transactions mirror 2017

It's the same old, same old where real estate in the central part of Wild Rose Country is concerned. Apparently, real estate transactions in central Alberta last year pretty much mirrored those in 2017, according to the latest statistics from the Central Alberta Realtors Association (CARA).  The relatively flat market trend is expected to continue.

In Sylvan Lake, there were 295 transactions in 2018, nearly spot on to the 302 in 2017. Lacombe transactions showed a slight increase last year with 194 homes changing owners -- an increase from the 177 sold in 2017. Meanwhile, Red Deer trends were much the same -- 1,331 home sales in 2018 and 1,397 in 2017. 

Despite the prices decreases in many homes, the market didn't pick up too much speed. Analysts believe the sluggish market is due, in part, to escalating interest rates and a mortgage test instated by the federal government last year. Realtors are hoping that the market continues on an upward trend at a slow pace, rather than prices escalate quickly and then bottom out. In any case, sales of homes in the central part of the province are at about where they were in 2011 -- suggesting a more even market.

There are many issues wrapped up in real estate transactions. The Alberta economy plays a large part in how the market fares. An Alberta real estate lawyer is a valuable partner in any real estate transaction, even the cut and dried ones. But as a deal grows more complex, legal advice and guidance may be particularly crucial and where a lawyer's experience may be invaluable.

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