A snapshot of the housing and mortgage market in Alberta

Genworth Financial recently released their spring/summer report for 2016, and it broke down the housing and mortgage trends in each of the provinces in Canada. As we look at the numbers in Alberta, there are some notable differences compared to the rest of the country when it comes to real estate.

Here’s some of the highlights of the Alberta housing market for spring/summer 2016:

• The average down payment amount in Alberta is 7.5 per cent, and 7.8 per cent in Calgary. These numbers are on average, lower than the rest of the country, with British Columbia, Ontario and Quebec all averaging well over 8 per cent.
• The average home purchase price in Alberta is $378,899, with 79 per cent of those home purchases being detached houses.
  • 7.2 per cent of home purchases are condos, 7.8 per cent were row housing and 5.7 per cent were semi-detached homes.
• The average household income in Alberta is $110,883, in Calgary it’s $109,659.
• Canada’s average first-time homebuyer is a millennial (born between 1980 and 1995).

If you’re interested in reading the highlights from the rest of the country as well, you can access the full report online here.

And whether you’re a first-time homebuyer, real estate investor or self-employed, there’s a number of resources on my website as well as services that can get you going towards homeownership.

Tags : calgary housing, calgary mortgage, calgary mortgage broker, calgary real estate, canada housing, canada mortgage, canada real estate, genworth financial