2014 has been a productive year for real estate in Calgary and across Canada. Fueled by low interest rates, home and condo sales have continued to increase in most areas. Here are the predictions for 2015 by some of the major players in the Canadian real estate industry:
Because of falling oil prices, interest rates could remain as they are. Alberta home prices will increase, but only by three percent due to the slump in oil prices. Unless the price of oil continues to decline, house prices should remain steady.
Canada Mortgage and Housing Corporation:
Existing home sales will rise moderately with increases of about 2 percent.
Royal Bank of Canada:
Not the most optimistic report, RBC predicts that home sales are expected to drop by…