A newly released housing market forecast predicts home prices will rise in Alberta in the coming year. According to a market survey forecast from Royal LePage, two major Alberta cities are in line for a slight increase in homes prices for 2020.
The study foresees a 1.5-percent year-over-year increase in the aggregate price of a Calgary home. It’s forecasting a 0.75-percent year-over-year increase in the median price of a condo and a 1.75-percent year-over-year increase in the median price of a detached, two-storey home. Those increases likely won’t be a factor until the second quarter of the year.
As for Edmonton, the survey predicts a one-percent increase in the aggregate price of a home at the end of the new year. During the same time, the median price of an Edmonton condo is expected to increase 1.5-percent and the median price of a detached, two-storey home in Edmonton is expected to increase 0.75-percent.