
Medicine Hat real estate trending similar to the rest of Alberta
MEDICINE HAT, AB – The demand for real estate in Medicine Hat and Alberta is through the roof. Matt Teel is the president of the Medicine Hat Real Estate Board and says that real estate inventory has been incredibly low.
“Low inventory has been affecting our market. It’s just not allowing as many houses on the market which is not allowing as many transactions so it’s harder for buyers to acquire right now,” Teel stated Friday.
Teel said that despite interest rates being a key concern for many people, it hasn’t been the biggest reason for the situation. Instead, Teel emphasizes that housing shortages are what contributes to the low inventory.