The Calgary Real Estate Board held their 2019 Economic and Housing Forecast today at The BMO Center at Stampede Park, and it looks like the challenging economic climate in Calgary could continue this year. The 2019 stat is a forecasted number.
“Slowing growth, weak job prospects and lack of confidence are all factors that are contributing to the expected easing in sales activity this year,” said Ann-Marie Lurie, CREB® Chief Economist. “At the same time, our market continues to struggle with high inventory levels and further potential rate hikes, all of which is expected to cause additional price declines this year.”
Buyers’ market conditions are expected to persist throughout most of the year, impacting prices across all property types. However, the pace of decline is expected to ease by the end of the year, as concerns over the economy ease. “In this market, buyers have the advantage of choice. A REALTOR® can help buyers find a home that best fits their lifestyle,” said Alan Tennant, CREB® CEO.
If you would like more information about the CREB 2019 Forecast or if you’re looking to buy or sell a home, call me today!
Bruce Voigt – REALTOR® / C.C.S.
MaxWell Canyon Creek