Are record high numbers of vacant new homes advantageous to home-buyers in Edmonton?Posted by Robert and Shawna Eskiw on
If you have been thinking about building a new home now might be the perfect time to consider buying a speculation built home. Record High vacancy rates in January for newly constructed homes sit at 1,941 in Edmonton up over 63% from last year, which means great opportunity for buyers.
With more supply than demand on the newly constructed homes, there is a lot of vacant inventory that builders are holding right now. The recent slow down in new construction projects was inevitable but those houses that were underway despite the Alberta ecomomy taking a slower rate of recovery from the recent recession (add all the qualifying mortgage changes on top of it) still had to be completed. Lower demands combined with it being harder to obtain…
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