RE/MAX Canada recently released their 2015 Housing Outlook report, and as 2014 nears a close, it's time to look at what the real estate market might bring in the new year. Here are some of the highlights from the report:
- The lowering energy sector is expected to have an impact on the 2015 real estate market. There is still expected to be a slight price appreciation next hear in housing, but most buyers will likely wait for more favourable prices before home buying.
- RE/MAX is predicting 2015 to be a more balanced real estate market for both buyers and sellers.
- Oil prices and dollar value are expected to have the biggest impact on housing prices in 2015.
- Calgary is expected to have a 4% increase in unit sales in 2015.
- Calgary's average home sale price is expected to increase to $497,500.
- Condominiums and townhomes are expected to have the biggest growing share in the real estate market in 2015 in Calgary.
If you're looking to buy or sell a home in the next few months, please feel free to send me any of your questions regarding the marketplace. To read the full market report from RE/MAX Canada here.