We had a presenter from CMHC at our CIR Monday morning meeting to talk to us about Calgary’s real estate & 3 new CHMC products. She also gave us the forecast summary for Calgary that was published in the spring of this year (2008). I think there are some interesting predictions.

CMHC predicts there will be a 2.9% increase in MLS sales in 2009, a decrease by 9.7% of new listings and that the average MLS price will increase by 4.9% in 2009.

CHMC is also forecasting that new home starts of single family homes will increase by 1.8%, though decrease by 57.1% for multiple family homes. They are also saying that new home prices will increase by 2.5% in 2009.

Interested in the Calgary rental market? CMHC noted that October 2008’s average rent for a 2 bedroom in Calgary was $1140 & they predict that to rise ever so slightly to $1150 in 2009. October 2008 vacancy rate was 2.5% & they expect that to rise as well to 3% in 2009. 

CMHC will be having a housing outlook conference in November & I will post their updated predictions as soon as I have them.