Home prices in the Foothills are on the way up as fears over low oil prices start to ease. Photo - Russell Skeet.

High River and Okotoks seem to be faring alright given the fluctuations in oil prices and the effect it's having on the real estate market.

A new report from the Canadian Real Estate Association says housing prices are rebounding in Alberta which they feel is a result of people's fears over low oil prices easing.

Don Campbell, the Senior Analyst with the Real Estate Investment Network says their research shows buyers could have the advantage by fall.

"We'll start to see sellers be a little more aggressive in their pricing, ie, lowering, in November and December. You are seeing some strength in the market right now, so you're negotiation ability to buy in the area is not as good as it could be. But you're better off in the market than out of the market."

Campbell says what's available around the Foothills right now, depends greatly on what kind of home you're looking for.

"What we're finding is that the luxury end of the market, the higher end, is really quite slow. But, it's actually still a seller's market in that low $250,000 to $300,000 range. And there's a higher demand for that end of the market than there is supply."

He says High River is particularly well poised to benefit from high home prices in the next year or so as more and larger businesses have targeted the Town as a high growth area and will be looking to set up shop.

Campbell says with low interest rates and a near zero vacancy rate in the rental market, now is a great time to get into the housing market.