Calgary housing prices forecast to stabilize in 2014

The Calgary Real Estate Board is forecasting house prices and sales to continue to grow in the resale market in 2014.

On Tuesday, the board released its preliminary forecast, saying prices are expected to rise by 4.3 per cent next year and MLS sales are expected to climb by 3.6 per cent from 2013.

Ann-Marie Lurie, CREB’s chief economist, said strong migration levels over the past two years have combined with strong employment and wage growth to support further gains in 2014.

According to the board, year-to-date up to Monday, there have been 22,710 MLS sales in the city which is a 10.97 per cent hike from the same period a year ago. The median price has risen by 5.30 per cent to $400,150 while the average sale price is up by 6.51 per cent to $456,762.

Lurie said both sales and price growth this year exceeded expectations.

CREB’s full annual forecast takes place January 15.

 

© Copyright (c) The Calgary Herald

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