According to an article in today's Calgary Herald, citing information from the Canadian Real Estate Board, housing prices in Canada are expected to decline during 2012. Demand for homes is expected to be greatest in Alberta, Saskatchewan, and Nova Scotia, with total anticipated sales forecasted to reach 458,800 units. That's up from 457,305 total units in 2011.
The national average price for a home is expected to decrease by 1.1 per cent this year, with a slight increase anticipated in 2013.
Gregory Klump, CREA's chief economist, noted that, “So long as the European debt crisis is contained and a global economic recession avoided, low interest rates will support Canadian home sales and prices. Recent trends are reassuring, but interest rates remaining low for longer will doubtless keep the Canadian housing market under scrutiny for signs of overheating."
This is great news for Calgary home buyers! When you're ready to buy or sell a home in Calgary, we are your real estate agents of choice. Be sure to use our quick and easy search feature. We're the experts, and we're here to help you! Contact the Calgary Home Team today for more information on how we can help you achieve your real estate goals at: 403.519.9102 or via email.
Ryan MacDonald, B.Sc. Real Estate Professional
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