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Net Job Creation (Edmonton CMA)• ThenumberofpeopleworkingintheEdmonton
regionwasdowninFebruaryby3.5%year-over-year,representinganetdeclineof27,000jobs.
• EmploymentinFebruarywasupmonth-over-month,however,by2,600jobsfromJanuary.
• After2monthsin2017,employmenthasdeclinedonaverageby3.6%fromtheaverageduringJanuaryandFebruary2016.
Unemployment Rate (Edmonton CMA)• Thejoblessrate(seasonallyadjusted)inthe
EdmontonCMAwas8.3%inFebruary,upfrom8.1%inJanuaryand7.5%attheendof2016.
• Thelabourforcegrowthoutpacedjobcreationmonth-over-monthinFebruary,liftingtheunemploymentrate.
• Edmonton’sjoblessratewas6.9%inFebruary2016.
Average Weekly Earnings (Edmonton CMA)• StatisticsCanadareportedthataverageweekly
earnings(AWE)intheEdmontonCMAincreasedinJanuaryby2.1%year-over-yearto$1,121.
• Month-over-month,however,AWElevelsdecreasedfrom$1,132inDecember.
• AWElevelsinEdmontonwereupin2016onaverageby3.5%fromallof2015.
Economic Indicators
First Quarter Market Report for 2017
TheREALTORS®AssociationofEdmontonadministerstheMultipleListingService®,advertisespropertylistingsandpublishesconsumerinformationontheInternetatwww.REALTOR.caandwww.ereb.com,aswellasonYEGisHome.caTheRAEtradingareaincludescommunitiesbeyondtheEdmontonCMA(CensusMetropolitanArea).Forinformationonaspecificarea,contactyourlocalREALTOR®.
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New Motor Vehicle Sales – Alberta• NewautosalesacrossAlbertaincreasedin
Januaryby3.4%fromthefirstmonthof2016to15,302units.Thiswasthethirdconsecutivemonthofyear-over-yeargains.
• Newvehiclessalesinallof2016decreasedby7.6%from2015levels.Thiscompareswitha12.6%decreasein2015fromthepreviousyear.
Alberta Net Migration• TotalnetmigrationintoAlbertafromallsources
decreasedby51%year-over-yearduringthefourthquarterof2016to3,555persons.
• ThenumberofnewcomersfromoutsideofCanadawasalsodownfromayearpriorbuthighenoughtocompensatefornetlossestootherprovinces.
• Alberta’soverallpopulationgrowthratedeclinedin2016to1.5%from1.7%in2015and2.4%in2014.
New Single-Family Housing
Single-detached Housing Starts (Edmonton CMA)• Single-detachedstartsintheEdmontonCMA
increasedinFebruaryby7%fromyear-agolevels348units.
• Thisfolloweda7.2%year-over-yeardeclineinJanuary.
Economic Indicators
First Quarter Market Report for 2017
TheREALTORS®AssociationofEdmontonadministerstheMultipleListingService®,advertisespropertylistingsandpublishesconsumerinformationontheInternetatwww.REALTOR.caandwww.ereb.com,aswellasonYEGisHome.caTheRAEtradingareaincludescommunitiesbeyondtheEdmontonCMA(CensusMetropolitanArea).Forinformationonaspecificarea,contactyourlocalREALTOR®.
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Single-detached Housing Starts (YTD) (Edmonton CMA)• Single-familystartsinthefirst2monthsof2016
wereupbyjustunder1%fromJanuaryandFebruary2016to592units.
• In2016,single-detachedstartsdecreasedby23.7%fromthepreviousyearto4,335units.
New House Average Prices (Edmonton CMA)• Theaverageabsorbednewhousepriceforthe
EdmontonCMA,accordingtoCMHC,decreasedinJanuaryby6.5%year-over-yearto$541,306.
• Theaverageabsorbedpriceinallof2016declinedby4.3%thepreviousyearto$577,393.
New Single-detached Absorptions (Edmonton CMA)• AlargerpercentageoftheunitssoldthisJanuary
werepricedunder$400,000.
• Theproportionofunitssoldlastyearinpricerangesabove$500,000decreasednotablyfromallof2015.
New Single-Family Housing
First Quarter Market Report for 2017
TheREALTORS®AssociationofEdmontonadministerstheMultipleListingService®,advertisespropertylistingsandpublishesconsumerinformationontheInternetatwww.REALTOR.caandwww.ereb.com,aswellasonYEGisHome.caTheRAEtradingareaincludescommunitiesbeyondtheEdmontonCMA(CensusMetropolitanArea).Forinformationonaspecificarea,contactyourlocalREALTOR®.
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Edmonton New House Price Index (NHPI)• StatisticsCanada’sNewHousePriceIndex
(NHPI)forEdmontondecreasedby0.6%year-over-yearinJanuary.
• Theaveragevalueforthisindexofcontractorsellingpricesin2016was0.2%lowerthantheprecedingyear.
Multi-family Housing Starts (Edmonton CMA)• Multi-familystartsinEdmontonregionincreased
byalmost150%year-over-yearinFebruaryto758unitsinFebruary.
• Sizableyear-over-yeargainsinsemi-detachedandapartmentactivitycompensatedforlowertownhousestartsinFebruary.
Multi-family Housing Starts (YTD) (Edmonton CMA)• Multi-familystartstotheendofFebruaryhave
increasedacrosstheEdmontonregionby48.2%to962units.
• In2016,multipledwellingstartsfellby50%from2015’srecord-settingpaceto5,701units.
New Single-Family Housing
New Multi-Family Housing
First Quarter Market Report for 2017
TheREALTORS®AssociationofEdmontonadministerstheMultipleListingService®,advertisespropertylistingsandpublishesconsumerinformationontheInternetatwww.REALTOR.caandwww.ereb.com,aswellasonYEGisHome.caTheRAEtradingareaincludescommunitiesbeyondtheEdmontonCMA(CensusMetropolitanArea).Forinformationonaspecificarea,contactyourlocalREALTOR®.
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