More Jobs = Population Increase = Stronger Demand for Housing 

Those who are still waiting for prices to come down before buying might want to start looking now.  More jobs will equate to more demand and eventually higher prices.  Our current environment of low prices and low interest rates creates the perfect time to buy and it won’t last forever.   Let the Hiring Begin! 

Todd Hirsch – Senior Economist, ATB Financial 

Job creation in Alberta lagged behind most other provinces in the 2010 recovery period, but stronger employment growth started to pick up around the turn of the year. What are Alberta employers anticipating this spring?   According to the latest survey of employers from Manpower Canada, companies in Calgary, Edmonton and Red Deer are expected (on balance) to add to their payrolls in the second quarter of 2011.   The survey calculates the difference between the percentage of firms expecting to expand payrolls and the percentage of firms expecting to contract them. The difference for all three Alberta cities in the survey is positive.   Reversing a trend seen in previous Manpower reports, firms in Calgary are now expected to lead the province in terms of increasing employment. The balance of net employment outlook in Calgary stands at 26%, which is an improvement over earlier surveys.   Employers in Edmonton and Red Deer, which had traditionally led the gains, now trail with a net positive balance of 12% and 10%, respectively.   The Manpower survey press release notes that nationally, Canadian employers are expected to add to their payrolls (i.e., a net positive outlook), but that optimism is particularly strong in Western Canada. Activity in the energy and mining sectors are identified as the primary drivers.

Market Update to Mar.10/11 – Red Deer
Price Range	All Active	Pending	Active 1 Year Ago	Sold MTD Feb. 28/11	Sold MTD Mar. 10/11	Sold MTD Mar. 11/10
< 100	21	2	19	4	2	1
100 – 150	37	1	34	5	1	1
150 – 200	46	2	55	15	3	4
200 – 250	54	8	72	22	10	4
250 – 300	89	9	102	23	13	10
300 – 325	52	3	68	10	8	5
325 – 350	33	4	59	3	2	3
350 – 375	29	4	31	7	2	1
375 – 400	37	2	44	2	1	2
400 – 450	42	2	50	8	2	2
450 – 500	24	0	34	2	1	4
500+	55	3	59	2	0	2
Total	519	40	627	103	45	39
Avg. Price	$328,982		$329,779	$268,133	$270,518	$312,225
Days On Market	54		49	57	58	40

Tags: Red Deer real estate market update