It's a BRAND NEW YEAR and with that comes a BRAND NEW REAL ESTATE FORECAST!
Today CREB released their annual Real Estate forecast to the public and it's not as scary as people were predicting.
The Calgary Real Estate Board predicts that, yes, the housing sales will drop in 2015 by 4%. However, prices are expected to remain stable or even increase slightly by 1.6% in Calgary this year.
CREB has said that this years forecast be taken with a grain of salt due to the uncertainty of the province right now due to the oil prices. Already this year Oil & Gas companies such as Suncor have announced they will be eliminating approximately 1000 jobs. However, when comparing the current real estate market to 2009, they say it will be much better.
A total of 24,503 homes are expected to be bought and sold in Calgary in 2015.
There are definitely some sceptics that do not believe that the housing prices will increase. As a Realtor I can say that myself, as well as many in the industry have not seen the dips that the media continue to publish. People do list for all types of reasons and I do hope to continue receiving those listings and to see the prices stay stable.