While some are predicting a downturn in the housing market in Alberta due to the lower oil prices, a local real estate board is more upbeat.
While some are predicting a downturn in the housing market in Alberta due to the lower oil prices, a local real estate board is more upbeat. Calgary Real Estate Board says that it expects the market to be steady with net migration and employment forecasts currently positive, although Ann-Marie Lurie, CREB’s chief economist says: “Concerns over the potential impact will influence consumer confidence. This is expected to cause supply and demand to ease in 2015, maintaining resale market balance and keeping prices relatively stable.” While conditions may be less favourable the board is not expecting to see a large scale pullback from the market.
