The spring market clearly had a delayed peak due to COVID-19 this year. Our weekly stats have shown a downward trend for the past few weeks, so I expect that July was the peak of the real estate market in Edmonton this year. We have clients moving for all kinds of reasons at the moment, upsizing, downsizing, relocating, first time buyers, and everything in between; we're all spending a lot more time at home, and for some, our priorities and needs have shifted.
"There have been improvements relative to the lowest sales levels caused by COVID-19, but it is too early to say things are shifting back to pre-pandemic levels," said CREB® chief economist Ann-Marie Lurie. "We are still facing record high unemployment rates, significant government aid, and uncertainty throughout the business community. This will continue in the coming months."Here are all the details on the Greater Edmonton Area real estate market in July: