CREB® forecasts challenges for 2018 market, but optimism remains on the horizon
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While Calgary is officially out of a long period of economic downturn, the path to recovery is expected to be bumpy.
The impact of stricter lending criteria and higher interest rates is likely to offset the modest improvements in the economy.
"Housing market conditions are expected to remain relatively unchanged in 2018," said CREB® chief economist Ann-Marie Lurie.
"The market will continue adjusting to the 'new normal' in this economy. However, there was modest job growth and net migration last year, with expectations of further improvements into 2018."
Minimal changes in sales activity are expected to be met with easing new listings for some property types. This should support more balanced conditions and prevent widespread benchmark price…
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