It’s no secret the Calgary housing market faced a number of challenges in 2018. But looking ahead, just what can we expect as we get a little further into 2019? Here’s a closer look at CREB’s 2019 forecast:
- Overall sales in Calgary are project to reach 15,882 units. While somewhat comparable to 2018, that sales volume is still well below historical levels.
- Re-sale homes will still remain oversupplied thanks to weak economic expectations for the rest of the year. As a result, home prices should fall by around 2.34%.
- New supply is expected to slow in 2019, which should help slow inventory gains towards the end of the year.
- For the most part, the market should keep moving further towards a balanced market; but it will likely take the entire year to reach that point.