CREB® delivers a market forecast twice annually—once at the beginning of the year (typically the second week in January) and again around the mid-point (July/August).
The forecast report provides a comprehensive look at key economic indicators that influence housing within CREB®’s region boundaries, from energy prices to employment and population trends, to name a few. It also examines each market sector, explores housing by property type and clarifies how supply and demand is functioning at the district level.
3% per cent annual decline recorded in 2016.
Price Forecast 2017: expected to be 0.8 per cent higher than levels recorded in 2016.
City-wide semi-detached prices have declined by 5.49% per cent since
Townhome (Row) prices declined by 4.8%
Price Forecast 2017: expected to be 0.4 per cent higher than levels recorded in 2016.
Oversupply in the apartment market has pushed prices down by 11 % over past 18 or so months. While the oversupply scenario may start to ease by the end of 2017, it will likely persist for most of year and cause prices to contract by another two per cent.
Price Forecast 2017: Prices DOWN by another two per cent.
Your Realtor Denis Hrstic