The Realtors Association of Edmonton (RAE) has issued a 2023 housing forecast that sees a gradual decline in the Canadian city's housing market with prices and listings hovering closer to pre-pandemic levels seen in 2019.
"We know the region is resilient, and we have plenty of reasons to be optimistic. Alberta and the Edmonton area have a lot to offer, especially when compared to our provincial counterparts," said Melanie Boles, REA chair, in a statement.
The forecast projects a 2.9% decline in detached home prices to $486K (prices are in Canadian dollars, now trading for about 70% of US greenbacks) in 2023 from $500K in 2022, which saw record highs of more than $510K in April, RAE figures show, adding that average prices for that class in 2018 and 2019 stood at about $444K and $435K, respectively, according to a report in the Edmonton Journal.
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