At the annual CREB Forecast and Tradeshow yesterday, CREB announced their prediction for Calgary real estate to experience moderate sales and price growth this year. The forecast expects sales growth to ease to 2.2 per cent, with house prices rising 2.9 per cent.
“Slower growth trends in employment combined with lower migration estimates will impact sales growth across all resale sectors, and, as listings continue to decline, this will further dampen sales growth, particularly in the single-family market,” Ann-Marie Lurie, CREB®’s chief economist, said at the 2013 CREB® Forecast Conference & Tradeshow. “However, as the overall market remains well supplied, prices will continue to grow but not at the levels seen in 2012.”
By the numbers:
• Single-family sales in 2012 increased nearly 15 per cent
• Single-family prices are forecast to rise 3 per cent
• Single-family listing growth to ease by 1.8 per cent this year
• Condominium sales forecast to increase 3 per cent this year
• Apartment condominium prices forecast to increase 2.4 per cent this year
• Townhouse condominium prices forecast to increase 2.8 per cent this year
Do you have questions about the CREB Forecast or these numbers? Feel free to email us or contact us on Twitter: @Len_T_Wong.
