Tuesday, November 18, 2008

Inventory of Spec Homes in Edmonton

Some suspect information came out from the Edmonton Real Estate Blog regarding inventory of spec homes:
Some interesting tidbits out recently:
• Increase of 15,000 full time jobs in Alberta for October putting employment at an all-time high in Alberta
Decrease of almost 5000 spec homes compared to last year in comparable inventory.
I found an article from the Edmonton Journal discussing spec homes. Inventory of spec homes has increased over the last year. These homes are also described by CMHC as completed and not absorbed.

There were 1,047 spec and show homes at the end of this October, up from 662 at October 2007, but that's on a downward trend from an August peak of 1,090 units.

"That number peaked in August and moved lower in September and October as absorptions have outpaced completions," Goatcher said. "It gives us some comfort that single-detached activity should start to turn the corner as we go forward because their inventory numbers are now moving in the right direction."

There were 524 multiple-family new, completed units at the end of October, compared to 338 at the same time last year as units started months ago before a slowdown are completed.

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