Expect a buyer's market for Edmonton-area resale homes in the remainder of 2010 with more balanced conditions next year, says a new report released Tuesday by Canada Mortgage Housing Corp.
The average resale home price in the Edmonton census metropolitan area will still increase by 3.9 per cent this year compared with last year, but total MLS sales will fall by 11.2 per cent, said the report.
Edmonton, like Alberta's other major centres except Wood Buffalo, are now buyer's markets as recent price growth attracted more listings while demand slowed, CMHC regional economist Lai Sing Louie said.
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