According to CREB®’s 2012 Forecast, steady growth in Calgary’s real estate market is expected for this year. Real estate professionals got an in-depth look at the city’s housing market for 2012, at the annual CREB® Forecast Conference and Tradeshow, on January 18th.
Highlights of the forecast:
• Amount of growth in the Canadian economy seems dependant upon the performance of Europe and US markets.
• Bank of Canada expected to leave interest rates unchanged at 1.0 per cent
• Consumer confidence in 2012 should benefit the resale housing market
• Housing demand supported by mortgage rates, wage growth and lower interest rates
• Moderate improvement in single family sales is expected
• A predicted rise in demand for condominiums
To see the full CREB® 2012 Forecast, visit their website: http://www.creb.com/public/media-resources/press-kits.php
