Aug. 12, 2016 | Carl Patzel
Satellite communities showing similar signs of strain; officials still optimistic
Feeling the pinch of a slowing economy, smaller satellite community housing markets have mirrored a downward drift in prices compared with Calgary but continue to be an attractive draw for buyers.
Depending on the region, CREB®'s mid-year forecast update has shown only a slight reduction in sales compared to long-term trends and actual growth in other outlaying districts.
Still buzzing with plenty of activity in new-home construction, Airdrie sales activity slowed in 2016 but hasn't dropped compared to five-year averages. A continual inventory build-up has kept new listings on pace with the past three years for Airdrie, which experienced a 5.37 per cent population growth since last summer and has recently surpassed 60,000 residents.