The provincewide boom in housing prices gripping Alberta for the last several years has been replaced this spring with price variations tied to local economies. They now range from increases of 23 per cent to declines of 15 per cent, according to a national survey by Century 21 Canada brokers.
The report says prices of homes in Alberta communities this spring are determined by the strength of the local economy and the supply of new housing built during the boom.
"The metro areas around Calgary and Edmonton are experiencing some price corrections," said Don Lawby, president of Century 21. In Calgary and nearby communities High River and Airdrie, for example, prices in 12 neighbourhoods surveyed varied from increases of nine per cent to decreases of 13 per cent.
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