Nearly every area of Calgary's housing market is forecast for growth, according to Canada Housing and Mortgage Corporation (CMHC). CMHC's annual Housing Market Conference was last week, and the organization outlined increases for Calgary's real estate market.
Here's some of the highlights:
• MLS sales should increase by 9.6% for year-end (29,200)
• Calgary housing starts are expected to increase 12% next year
• Average house price is forecast to increase to 5.9% to $436,500
Some other notable trends that were noted at the conference are that employment and the economy are up in Calgary, and migration is up incredibly, which are all factors positively affecting our real estate market.
Links to the CMHC forecast, as well as a more in-depth story on the forecast can be found on the CREB website here. If you have questions on the real estate market, feel free to contact me.