Report: RE/MAX Housing Outlook
Modest price increases predicted.
RE/MAX released its annual outlook on housing in Canada, amid news of dropping oil prices. The news for 2014 was all about a tight housing market in Calgary, with an average price increase of nearly 6% and a 10% rise in unit sales. 2015 is projected to be a more balanced year here, and across Canada.
Calgarians are accustomed to the cyclical nature of oil prices and while we are not prone to overreaction, things are definitely slowing down. The RE/MAX report predicts we’ll still see an increase in prices of about 3% and unit sales up by about 4% in 2015.
More insights from the report, that concludes our real estate market should continue to flourish. Driving demand will be:
- Buyers looking to move up
- Renters looking at purchasing sooner than anticipated
- Entering home ownership through affordable condos and townhouses
Read the full report RE/MAX 2015 Housing Market Outlook