In 2012, the national housing market finally turned a corner. We’ve now experienced 13 straight months of home value appreciation. Sales were up significantly over 2011 as buyers returned to the market, boosting demand.
So what will 2013 have in store? Here are five things consumers can expect to see in the housing market next year:
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To say that residential construction activity in Red Deer this year is similar to 2011 might be an understatement.
With one month remaining in the calendar year, cumulative housing starts in the city numbered 515 — the same tally as the end of November last year.
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The condo apartment and townhouse resale market is experiencing strong sales, says the Calgary Real Estate Board’s monthly report on sales activity.
“Sales have been quite strong in the townhouse side, without a lot of additions to the inventory. That has made the market a little tighter,” says chief economist Ann-Marie Lurie of CREB.
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CALGARY — Alberta’s economy grew at the fastest rate among the provinces in 2011, expanding 5.1 per cent compared with an increase of 4.0 per cent in 2010, according to Statistics Canada.
The federal agency reported Monday that exports in the province advanced 9.2 per cent, more than four times their pace in 2010. Consumer spending rose 3.4 per cent, driven by household outlays on durable goods, notably new trucks and used motor vehicles, and services. Business investment was up 7.6 per cent, despite a 5.2 per cent decline in investment in residential housing.
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With two months remaining in 2012, Red Deer home builders find themselves slightly ahead of the pace they were setting last year at this time.
Canada Mortgage and Housing Corp. reported on Thursday that there had been 499 housing starts in the city as of Oct. 31.
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FORTSASKATCHEWAN- It’s only October, but 2012 will be a stronger year for Fort Saskatchewan new home starts than last year.
In a recent release sent out by the City of Fort Saskatchewan, building permits to date for 2012, including new construction and renovations, have tallied $86,491,969.
This come as a division between residential ($56,000,834), multi-family homes ($12,982,130), commercial construction ($5,906,530), institutional builds ($2,665,500), and both heavy and light industrial activity ($8,986,075).
Single-family residential permits issued have already surpassed those handed out in 2011, reaching 219 over last year’s 203, but still below the 265 that were initiated in 2010.
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