RSS

Enjoying the last few weeks of summer, makes us all start to think of fall.  With a summer of heat and a steady market, we are looking a busy fall with listings and sales.


Sharing with you the CREB forecast, enjoy your summer days and looking forward to fall. 


CREB® forecasts a process of recovery for the remainder of 2017


The first-half of 2017 marked a shift in Alberta's economy from recession to recovery, with conditions supporting stability rather than expansion.


"Economic challenges continue to exist, as high unemployment rates, weak migration levels and more stringent lending conditions are weighing on the housing market," said CREB® chief economist Ann-Marie Lurie. 


"This will continue to cause some adjustments in the housing market for the remainder of this year. However, this is not expected to offset earlier gains supporting general stability in 2017." 


Resale sales activity is expected to total 18,401 units in 2017, a 3.3 per cent improvement over last year. The pace of growth is slightly faster than originally anticipated, due to the stronger growth that occurred in the first half of the year.  


"We saw many of those consumers who delayed any purchasing decisions willing to re-enter the market as concerns regarding the economy eased," said CREB® president David P. Brown. 


"More potential buyers on the market helped move some of the product in inventory and started to create some price stability." 


Improvements in the supply demand balance, primarily in the detached and attached sector, caused prices to start to trend up. Demand growth through the remainder of the year is expected to ease relative to inventory levels. This should prevent further substantial shifts in pricing. Overall, annual city wide prices are expected to remain at levels comparable to last year.


Despite generally improving trends, difficulties continue to exist in the condo-apartment ownership market. Rising sales cannot keep pace with the growth in new listings, keeping supply levels high and placing continued downward pressure on prices. This area of the housing market will likely continue to face challenges well into next year, as it will take time to absorb additional inventory in the resale, new and rental markets. 


"Improvements in the labour market are supporting the shift in the housing market this year. However, activity over the past two years was amongst the weakest we have seen since the financial crisis," said Lurie.


"While the shift is welcome news for many, we continue to expect that process of recovery will be slow and dependent on the property type and location within the market." 


For more information, please refer to the CREB®'s 2017 Economic Outlook & Regional Housing Market Mid-Year Update found here




 

CREB®Link



CREB®Now



CREB®

 

Read
Categories:   Acadia, Calgary Real Estate | Airdrie, Airdrie Real Estate | Altadore, Calgary Real Estate | Aspen Woods, Calgary Real Estate | Bankview, Calgary Real Estate | Bayview, Calgary Real Estate | Bel-Aire, Calgary Real Estate | Beltline, Calgary Real Estate | Braeside, Calgary Real Estate | Brentwood, Calgary Real Estate | Bridgeland/Riverside, Calgary Real Estate | Bridlewood, Calgary Real Estate | Britannia, Calgary Real Estate | Cedarbrae, Calgary Real Estate | Chestermere, Chestermere Real Estate | Chinook Park, Calgary Real Estate | Cliff Bungalow, Calgary Real Estate | Collingwood, Calgary Real Estate | Copperfield, Calgary Real Estate | Cranston, Calgary Real Estate | Crescent Heights, Calgary Real Estate | Currie Barracks, Calgary Real Estate | Dalhousie, Calgary Real Estate | Deer Run, Calgary Real Estate | Discovery Ridge, Calgary Real Estate | Douglasdale/Glen, Calgary Real Estate | Dover, Calgary Real Estate | Downtown Commercial Core, Calgary Real Estate | Downtown East Village, Calgary Real Estate | Eau Claire, Calgary Real Estate | Elbow Park, Calgary Real Estate | Elboya, Calgary Real Estate | Evanston, Calgary Real Estate | Evergreen, Calgary Real Estate | Garrison Green, Calgary Real Estate | Garrison Woods, Calgary Real Estate | Haysboro, Calgary Real Estate | Highwood, Calgary Real Estate | Hillhurst, Calgary Real Estate | Huntington Hills, Calgary Real Estate | Inglewood, Calgary Real Estate | Kelvin Grove, Calgary Real Estate | Killarney/Glengarry, Calgary Real Estate | Kingsland, Calgary Real Estate | Lake Bonavista, Calgary Real Estate | Lakeview, Calgary Real Estate | Legacy, Calgary Real Estate | Livingston, Calgary Real Estate | Lower Mount Royal, Calgary Real Estate | Mahogany, Calgary Real Estate | Mayfair, Calgary Real Estate | McKenzie Lake, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | Midnapore, Calgary Real Estate | Mission, Calgary Real Estate | Mount Pleasant, Calgary Real Estate | New Brighton, Calgary Real Estate | Nolan Hill, Calgary Real Estate | North Glenmore Park, Calgary Real Estate | Oakridge, Calgary Real Estate | Ogden, Calgary Real Estate | Palliser, Calgary Real Estate | Parkhill, Calgary Real Estate | Parkland, Calgary Real Estate | Patterson, Calgary Real Estate | Point McKay, Calgary Real Estate | Pump Hill, Calgary Real Estate | Ramsay, Calgary Real Estate | Ranchlands, Calgary Real Estate | relocation, Amybrooks.ca | Renfrew, Calgary Real Estate | Richmond, Calgary Real Estate | Rosedale, Calgary Real Estate | Royal Oak, Calgary Real Estate | Rural Rocky View MD, Rural Rocky View County Real Estate | Shawnessy, Calgary Real Estate | Signal Hill, Calgary Real Estate | Silver Springs, Calgary Real Estate | Silverado, Calgary Real Estate | Somerset, Calgary Real Estate | South Calgary, Calgary Real Estate | Southwood, Calgary Real Estate | Spruce Cliff, Calgary Real Estate | Strathcona Park, Calgary Real Estate | Sundance, Calgary Real Estate | Sunnyside, Calgary Real Estate | Thorncliffe, Calgary Real Estate | Tuscany, Calgary Real Estate | Varsity, Calgary Real Estate | West Hillhurst, Calgary Real Estate | Westgate, Calgary Real Estate | Willow Park, Calgary Real Estate | Windsor Park, Calgary Real Estate | Woodbine, Calgary Real Estate | Woodlands, Calgary Real Estate | Yorkville, Calgary Real Estate | YYC Home Marketi
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.