Meanwhile, preliminary data from the Canada Mortgage and Housing Corp. shows that there has a been a sharp rise in new, unsold homes in Edmonton in the past year. Figures for March show 1,800 vacant units, up 70 per cent year-over-year. Multi-family units saw the largest rise in inventory.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Whitehorse, Beausejour, Riverside Estates, Renata, Princedale
Easing prices and higher demand is piquing the interest of first-time home buyers in Calgary and Edmonton. A report from TurboTax looks at the use of the first-time homebuyers credit and reveals that 3.1 per cent of millennials filing a tax return are using the credit, up from 2.4 per cent a year earlier.