Coronavirus outbreak to exert downward pressure on Alberta housing

buying a home in Canada

The coronavirus has been impacting the Alberta housing market, which was already struggling, and it’s likely to keep pushing the housing market down for a while. Home prices, listings, and sales have all plunged in recent weeks due to the pandemic. However, the news isn’t all bad, because the government is taking steps to counteract the virus’ impact on the economy. Because of this, the housing market will hopefully rebound soon when the economy can open back up.

Key Takeaways:

  • Due to the unprecedented nature of the coronavirus, it will continue to make the Alberta housing market decrease.
  • The market is dropping, with sales and new listings both down.
  • However, government measures to help out homeowners should also help the market recover.

“The impact of the COVID-19 pandemic on the already-battered Alberta housing segment will persist over the next few quarters, according to the Alberta Real Estate Association (AREA).”

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