Downward Trends in Second Quarter Statistics Aren’t All Bad News

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The REALTORS® Association of Edmonton held its quarterly statistics press conference on the morning of July 3, 2019.

They reported an overall downward trend of 18% in listings, but say that prices and sales are remaining relatively steady, and the overall Edmonton housing market is still healthy.

Listings are have come down due to the previous quarter having experienced a record high.

Some people also might have taken a bit of a break from the housing market and may have chosen to take their properties off the market.

Potential sellers could also be watching to see how the market is performing before listing their home, contributing to the drop in listings during the second quarter.

However, Edmonton’s housing market is still a buyer’s market, as there is plenty of real estate and inventory to satisfy the needs of home buyers. 

Watch the video of the full press conference or click the link for more details. 

Transcript

Good morning, everybody. Welcome to the REALTORS® Association of Edmonton and our quarter 2 statistics press conference. 

Not a lot to say to say today. Listings are down—fairly, significantly down 18%. Sales have remained relatively steady, though still down from normal. Prices have also remained steady.

So the basic news in our market is listings are down; the market is still moving. Not a terrible time to buy or sell—still working with pretty much a buyers’ market.

There is enough inventory to satisfy buyers, and people are going to need to still remain patient. Days on market are still up, and it is taking some time for houses to sell.

Having said that, the general market trend is similar to usual. We were slower in the winter time. It picked up in the spring; it’s still staying busy.

Now we’ll be quiet for a little period here now while people move into the business of summer and getting holidays under way.

And then hopefully a little bit later on, we’ll pick up as people come back from holidays and get ready to have possessions in time for September and school being started. 

The market is still happening. Homes still are being sold. Sellers are having sales. Buyers are buying property. People are still moving within the market, into the market, and out of the market, so the market is still happening. 

It’s certainly a market where they can feel confident—that they can feel confident participating in this market and, you know, participating in Edmonton’s economy.