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Karen Jardine
CIR Realty
#100 707 10 Ave SW, Calgary, Alberta
P: 403-874-2712  F: 403-000-0000
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Thursday, January 21, 2010 - CREB Forecast Breakfast Report

CREB Forecast: ~3% increase in rural properties, ~4% in condos, ~6% residential. Sounds promising. Economists noted the first part of the year will be better than the latter half & recovery is still slow. 2011 to realize more of the 'recovery'.

Our economists panel predict a 2% increase in the Bank of Canada rate late 2010 into 2011. Remember we are at an 'emergency' rate of 0.25% & they are expecting to move ahead in the recovery process to move us to 'low' interest rates.

Economist Adam Legge quoted the Globe & Mail: 'my concern is that there is no momentum in this recovery'.Recovery is expected to be:

  • Incremental
  • Steady
  • Slow Paced
  • Tepid growth.

What would this say to home buyers & sellers?

Buyers: Don't expect prices to drop, though once you buy, don't expect to flip in a year & make a profit. It IS an investment, a place to live. Have reasonable expectations and plan to stay for a minimum of 3 years.

Sellers: Prices are beginning to recover, though if you have purchased in the last 2-3 years, you may not come out ahead. Inventories have come down, so there is less choice. Supply is less, demand is good, prices are expected to experience a reasonable increase this spring.

Buying or selling, alway sit down to review your options.


posted in General at Thu, 21 Jan 2010 20:44:08 +0000

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