David Pellettier Real Estate Blog

CREB 2013 Forecast: The Highlights

The annual CREB Forecast and Tradeshow was held last week, where industry experts share their predictions and trends for the 2013 real estate market and economy. Overall, the forecast painted a positive picture for Calgary this year, calling for moderate price and sales growth for the real estate market.


Economic Environment: Canada


• Interest rates: it is unlikely we will see any increase in the stimulative interest rate until 2014.

• Three key factors have helped the Canadian economy avoid some of the economic trouble in the US: our
strong financial sector, our commodity-rich endowment, and our relatively resilient housing market.


Economic Environment: Alberta


• Alberta’s 5.2 per cent GDP growth in 2011 led the country.
• Rising oil production is driving up energy exports, more than offsetting continued declines in natural gas shipments.
Calgary Housing: New Homes
• New home starts surged in 2012, driven by low mortgage rates, strong employment and migration growth and declining supplies in the resale market.
• Housing starts are estimated to total 12,400 units in 2012, a 33 per cent rise.
Calgary Housing: Resale
• The resale market finally gained some momentum in 2012 as sales activity rose both within city limits and in surrounding areas.
• Sales within city limits totaled 21,207, an 15 per cent increase over 2011.
• This year, the level of sales growth is expected to ease to 2.2 per cent, for a citywide total of 21,669 units.
Do you have questions about the 2013 forecast? Feel free to contact me, or download the full report from CREB here.
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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
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.
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