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Housing affordability holding steady in Alberta as resales drop

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A new report from the Royal Bank of Canada is attributing the bulk of a recent drop in home resales nationwide to Alberta and Saskatchewan.

Resales cooled at the end of 2014, dropping 5.6 per cent between November and December, and another 3.1 per cent in January.

In Alberta specifically lost confidence in oil-production is being blamed for a 35 per cent drop province wide through December and January.

The report says the number of sellers in the province has surged as well.

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It goes on to say that there has been no change in housing affordability in the province, and that Alberta continues to be fairly attractive in that regard when compared to other provinces.

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