December housing numbers in Lethbridge leave experts hopeful
Global News
Lethbridge semi-detached homes saw prices nearly double, to around $315,000 on average.
Prospective first-time homebuyers out house hunting are having to look a little harder these days, with entry-level price points in Lethbridge being highly sought after.
Jennifer Bodoway is a 15-year veteran of realty and understands the challenges people face as they look to break into the housing market.
“There just aren’t very many single detached homes available in the price range that people are ready to start out at,” Bodoway said. “So, if there’s a nice condo with granite counter tops that’s finished, less than 10 years old, that’s going to be quite popular with someone who is just starting out.”
BILD Lethbridge executive officer Bridget Mearns said the members of the residential construction industry are aware of the uphill battle of owning a house.
“I think that a lot of people have been waiting to see what will happen in the interest rates, but I think there are also a number of people who haven’t been qualifying,” said Mearns. “So, it has become a barrier to them, specifically first-time home buyers. ”
With the average price of a home in Lethbridge increasing 3.8 per cent to just over $360,000.
Average prices on detached homes in the city increased 14.7 per cent to around $429,000.
But semi-detached homes saw prices nearly double, to around $315,000 on average.
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