The Calgary Real Estate Board, CREB, released the 2017 market outlook and forecast report recently.
The themes speak to a transition to a stable local real estate market in 2017. While detached and attached homes are ahead of the curve on this over apartments, the overall market balance is now taking us away from the challenging conditions in the previous two years. The apartment sector continues to lag in part due to new construction supply.
With that, our market is very much dependent on many factors including the stability of the energy sector, the overall labour market and public government policy regarding mortgages and lending.
As I have completed property evaluations for numerous clients over recent weeks the one biggest takeaway remains that the trends are quite different across the city.
You can’t just look at an overall city benchmark and take that to determine a home price.
With the holiday season now behind us we look forward to 2017 and the upcoming late winter/spring market. With change comes opportunity. Let’s chat about yours.
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