According to a recent forecast released by Royal LePage, housing prices in Calgary are expected to increase by around 2.5% this year. A drop in oil prices recently has not yet impacted real estate in our city.
“Oil is a major economic influence in Calgary, so the recent price drop is worrying,” said Ted Zaharko with Royal LePage Foothills. “While we believe there may be some immediate term impact on the local housing market in the form of slowed appreciation, there would need to be prolonged low oil prices for any spillover into the housing market to be significant.”
CREB's annual forecast was yesterday also, and the sentiment there was the same. This year will bring stable price growth for Calgary and offer more options to homebuyers.
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