Economic growth forecasts paint cautiously optimistic picture for Calgary housing market
Calgary’s housing market lives and breathes based on the whims of the city’s overall economy.
While the city had an impressive gain of 6.9 per cent in economic growth in 2017 compared to 2016, according to the Conference Board of Canada, the economic engine will slow down this year and in 2019.
The board is forecasting Real GDP growth of 2.5 per cent in 2018, followed by 2.1 per cent next year.
It’s a sign that the housing market will remain challenged going forward. In the early part of this year, MLS® System sales were hovering just under 20 per cent off the pace set last year, while the average sale price was down just over one per cent.
Thinking of Buying New...?
Things you NEED to know!
Have you taken a drive lately and noticed all the new communities popping up around the city? Exciting right! These new communities often offer beautiful condos, townhomes and single-family homes. Not only do they have a property for every buyer, but they also offer them at great prices! I mean… who doesn’t love a brank spankin new home with all the beautiful finishing’s that we dream of as home owners? I have a few tips which many people overlook when purchasing a new home that you need to know:
My first and MOST IMPORTANT TIP is to use a real estate agent that is NOT affiliated with the builder. Majority of buyers don’t realize that they are able to use their own agent during this transaction.…
When you think about looking for a new home, one of the first questions that probably comes to mind is: "What type of property can I afford?" That's an important question because your price range is a major determining factor in the types and sizes of homes you should be viewing. You don't want to waste time looking at properties that are beyond your price range. At the same time, you don't want to purchase a less-than-ideal home, only to realize later on that you could have afforded more. So how do you determine what type of new home you are qualified to purchase? The first step is to find out what your current property would likely sell for in today's market. We make that calculation for clients all the time! It involves reviewing what homes similar to…