Market Stability and Growth
Thursday, January 19th, 2017
More positive indicators regarding Calgary’s real estate market for 2017, this time from the Calgary Real Estate Board. In its 2017 forecast, CREB predicts about a three percent increase in total units sold, with an increase in detached home prices of nearly a percent. While a far cry from the booming numbers of a few years ago, this kind of stability – with a slow upward trend – is highly reassuring as we emerge from a recession. Check out the whole forecast document here.
Call me an optimist, but I’d suggest CREB is being a bit conservative with its predictions. It’s my feeling that there’s some pent up demand in Calgary’s market, people looking to make a move within the city who were simply waiting out the downturn so as to not experience so much downward price pressure on the property they’re looking to sell. If this is indeed the case, we could see an increase in the number of transactions over the course of the year, and maybe a little bump in the average price.
Regardless, we seem to have weathered a storm and are about to see the sun peaking through the clouds.
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