Studying the impact of COVID-19 on Alberta real estate markets

This project uses data-driven approaches (e.g., machine learning) to evaluate the impact of the COVID-19 pandemic on Alberta’s real estate markets. The University of Alberta will collaborate closely with the REALTORS® Association of Edmonton so that the research aligns with industry stakeholder interests. The main objective is to analyse the impact of COVID-19 on:

  • Market prices
  • Listing durations
  • Valuation of specific property attributes
  • How these impacts vary by neighbourhood or region
  • How these impacts vary by property type

The Edmonton real estate market will act as a pilot project for the development of statistical methods, analytical tools, and workshops. As the REALTORS® Association of Edmonton and other organizations seek to generate value from proprietary transactional data, the results and outcomes of this project will serve as the basis for the analysis of other real estate markets across Alberta.

Toolkit for healthy, resilient homes and communities in times of pandemic recovery

The COVID-19 pandemic and related public health have drawn people’s attention to how critically important their homes, neighbourhoods, and communities are to their health. Public health works proactively to create the conditions for long-term recovery by focusing not only on the disease, but on promoting the health of people. Healthy people are the foundation of a healthy economy.

This project will engage real estate professionals, planners and developers, consumers, and municipalities to identify critical ‘healthy community’ factors in the face of COVID-19 pandemic recovery, related economic uncertainty, and environmental stewardship. The engagement process and resulting easy-to-use online toolkit will help provide supports for Albertan’s healthy home choices. The toolkit will identify factors needed to drive economic growth, sustain community vitality and resiliency, promote environmental stewardship, and improve citizens’ health outcomes.

Additional Small Grants and Sponsorships 2019-2020 for COVID-19

In March, as the COVID-19 lockdown began, AREF’s Board recognized that the province’s real estate industry required additional short-term support, and in response, the Board more than doubled the Sponsorship and Small Grants budget by adding an additional $150,000 to ensure the Foundation responded nimbly to the needs of its stakeholders.

AREF has since collaborated with its valued industry partners and stakeholders—including Real Estate Boards, the Alberta Mortgage Brokers Association, and the Building Owners and Managers Association—to discuss how to use sponsorship funding to support them and help strengthen their ability to serve their members.

Creating emergency accommodations for Wood Buffalo Housing

This project will provide 30 multi-family units in one of Alberta’s most progressive communities that through the last few years have been going through extraordinary change. This project will meet immediate needs in this extraordinary time of multiple stressors in the community with industry in flux, COVID-19 and now in the wake of a major wildfire and now a flood. In the long-term, these units will provide bridge accommodations as people look to longer-term real estate options.

Civic Commons Catalyst

Supporting Transformative Revitalization in Alberta’s Urban Development Sector Through Uncertain times – The Civic Commons Catalyst is a timely, creative, shared platform that brings together organizations and institutions to research, convene, evaluate, and develop public and private real estate opportunities in Alberta. The Catalyst is a solutions lab that will address the challenges facing the Alberta and Calgary urban development sector including the potential impacts of COVID-19 on the built environment, impacts of the downturn in the oil and gas sector and the vacancy and underutilization of assets in Calgary’s downtown core.