The Economic Update looks at historic housing, population and economic statistics and seeks to identify trends to create a full picture of the state of the provincial economy and housing market.
- Historic levels of completed and unabsorbed housing units remain on the market (over 4,500).
- This is evident across all housing types with a very notable increase throughout 2018 for single detached, semi-detached and row housing units.
- While a number of factors are at play, this recent increase coincides with the second mortgage stress test introduced in January 2018.
- Housing starts while below 2017 levels, remain near the 3, 5 and 10 year averages.
- Alberta’s population continues to grow with net interprovincial migration rebounding into positive figures during the second quarter.
- The economy continues to grow with a number of key indicators rebounding to pre-recession levels.
Information provided in this report has been cited and provided by sources such as the Canadian Mortgage and Housing Corporation, Statistics Canada, Alberta Real Estate Board, BuildForce Canada and the Government of Alberta. As this is the first report, we are asking that members provide feedback on information they find particularly helpful and any additional information that should be included.