The economy continues to take a pounding. There are many variables affecting the Alberta economy at the moment and the real estate industry has not escaped any of them. Office buildings stand empty in Calgary and other areas of the province, and homes that have been on the market for months still aren't seeing any action. Landlords are taking a pounding and analysts can't say when things might change.
Home sales are being dampened by even more hurdles these days. With things like social distancing in place along with falling oil prices, the real estate market in Alberta continues to take a hit. Lower inventory, weak activity, job layoffs and a lax oil market haven't done the market any good and things aren't likely to change drastically over the next while, according to analysts.