Sunshine Homes, Alberta’s Leading Custom Home Builder, Comments On Impact of Falling Oil Prices on Housing Market

Alberta, Canada (PRWEB), March 17, 2015 – Sunshine Homes (www.SSHomes.ca), a company who has been delivering custom manufactured homes in Alberta for the last eight years, is weighing in on the impact that falling gas prices are having on the Alberta real estate market.

The numbers for the January real estate market has recently been brought to light and has many concerned about the state of Alberta real estate. The number of properties sold declined by 30% to 2,642 and the average price of an Alberta home in the month of January dropped by 1.6%, which is in stark opposition to the 3.1% increase for Canada as a whole during the same period. (Source: Smith, N., “Why Every Canadian Investor Needs to Worry About Alberta’s Housing Market,” Fool.ca, February 27, 2015; http://www.fool.ca/2015/02/27/why-every-canadian-investor-needs-to-worry-about-albertas-housing-market/.)

“Even before these numbers came out, I think it was pretty well known that it was a tough month for Alberta when it comes to the housing market,” says Bill Watt, owner of Sunshine Homes. “But to actually see some hard facts as to the extent of the troubles was probably alarming to some people.”

According to Watt, the decline in the number of homes sold is not really surprising. That’s because it’s almost directly related to the fall in oil prices, which is why these figures were expected by most people in the real estate industry. However, the average price dropping by 1.6% is not something that should immediately concern Alberta homeowners or home buyers looking at these figures.

“This allusion to the oil price decline is well noted,” he adds. “In Alberta towns where oil is the main economic driver, the numbers are actually a bit worse. Areas like Fort McMurray, Grande Prairie, and Lloydminster saw its average home price decrease between seven percent and 14%.”

“That’s partly why we at Sunshine Homes do what we do. Developing affordable modular homes gives residents of Alberta a better option for home ownership in both good times and bad,” Watt concludes. “Being able to offer modular homes that are fully customized to the homeowner’s tastes is another advantage that we feature.”

Sunshine Homes delivers custom modular homes all across Central Alberta. Visit the Sunshine Homes web site at www.SSHomes.ca to find out more about the benefits of modular homes.