Red Deer home sales November 2021
November detached home sales in Red Deer outperform last year for another month in a row. Home sales slowed when Covid19 kicked in and then, as a surprise to everyone, sales were higher month after month. Low-interest rates encouraged more buyers to make a move and it hasn’t slowed much since.
Home sales each year cycle each the year with some months always more active than others. But comparing each month with its corresponding month the year prior shows us how the market has changed since.
In the past number of years, the Red Deer market only saw sales decreases each year so it is interesting now, and good for our local market that sales have improved. Only one month in 2021 had sales lower than the same month in 2020. That month was July but it’s hard to say why caused it.
Sales increased month after month for 13 months prior to July so the dip made me question if it was a turning point. It may have been a turning point of sorts because after July the higher sales were more reasonable. Prior to July home sales averaged 50% higher and after July the average is only 15% higher.
November detached home sales were 13% higher than November 2020 after October’s 10% increase. Those aren’t high numbers but 2019 was the slowest sales year this decade and 2021 October and November numbers were 37% and 30% higher than 2019 respectively.
2021 detached home sales going into December are 49% higher than 2019 sales and 51% higher than 2020 sales. I mentioned that 2019 homes sales were the lowest we’ve seen in a decade but given the numbers above you can see that 2020 home sales were actually a little lower than 2019. That’s because in the first two months after Covid hit, April and May 2020, home sales were very low. And that deeply impacted 2020 numbers. However, the months following April and May 2020 were higher.