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Average home prices in the Edmonton region dropped more than in any other Canadian city last year, and 2017 doesn’t look much brighter, a new Royal LePage report shows.

During the last three months of 2016, the value of houses in the region declined 2.1 per cent to $378,247 compared to the same period the previous year, according to the real estate company’s national house price survey released Thursday.

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It found the median price of a two-storey home was down 1.8 per cent to $434,924, bungalows fell 2.7 per cent to $366,653 and condominiums slipped 1.9 per cent to $238,685 , all because of Alberta’s weak economy.

Edmonton had the poorest results in the country as one of the five cities out of 53 surveyed that showed decline.

That included drops of 1.8 per cent in Red Deer and one per cent in Calgary.

Overall, average Canadian home prices rose 13 per cent to $558,153, spurred primarily by big jumps in the hot Vancouver and Greater Toronto Area markets.

Royal LePage predicts this will be another slow year for housing in the Edmonton area.

Average prices are expected to go down a further 0.9 per cent to $378,247 while Calgary prices increase 2.5 per cent to $460,837 in what the company sees as a modest growth phase for the energy industry.

The information is similar to estimates released last week by the Realtors Association of Edmonton, which anticipates prices of local single-family homes will drop 2.2 per cent this year and inventories will remain high.

gkent@postmedia.com

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