Albertan Canada Economic and Pipeline Update

Economic structure Appendix Solid housing starts; resale market cooling Annualized Alberta housing starts, existing home sales and the average resale home price* 80 70 60 50 (Thousands) 40 30 20 Oct-14 Dec-14 Apr-15 Feb-15 Aug-15 Jun-15 Housing Starts (left) Oct-15 Dec-15 Feb-16 Home prices hold steady Apr-16 Jun-16 Existing Home Sales (left) Sources: Canadian Real Estate Association, Canada Mortgage and Housing Corporation 27 22 Aug-16 Oct-16 Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Average Resale Price (right) Albertan Canada 420 410 400 390 380 370 360 ($ Thousands)

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