First-time buyers return to Calgary, Edmonton as inventory rises

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.

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.

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