Article content continued
“But then we’ve also had this sort of reimagining or reshift, of the purpose of our house,” she said.
“So we have people now that have spent several months working from home, they know that they’re going to continue to work from home. We have families that are now educating their children from home and sometimes in those instances the house just doesn’t work for them.”
Average price of $440,020
Single-family homes sold for an average of $440,020, a 4.73 per cent increase from September 2019, and a 0.11 per cent increase month-over-month from August 2020. Condominiums in September sold for an average of $232,237, a 6.74 per cent increase year-over-year, and prices are up 1.34 per cent compared to August 2020.
The Canadian Real Estate Association reported record-shattering home sales in July and August amid low mortgage rates. Lucas said Edmonton also broke records in August.
She said she’s not surprised September numbers dipped slightly from August.
“Typically, the end of August, beginning of September, people are focused on getting their kids back to school so there tends to be a little bit of a break…. I suspect we will get one last push for those people that want to be in their new homes before Christmas,” she said.
Lucas disputes a report released last month by Moody’s Analytics Inc. which suggested there is a “dangerous” oversupply of new single-family homes in Calgary and Edmonton.
“Now, that would have been different if … they started to put their numbers together, let’s say in January or February. You know, yes, there was (oversupply), but we’ve sort of, over the summer, ate that supply,” she said.
View original article here Source