CHQR Newsroom
11/2/2009
The latest outlook on the real estate market in the Calgary area suggests there will be rebounds in starts, sales, and prices next year.
Canada Mortgage and Housing Corporation says total starts in 2009 are down 51 per cent compared to last year, but projects a 20 per cent increase in 2010.
The main reason for the decline this year is construction of multi-family units virtually ground to a halt.
Today's CMHC report shows average house prices have fallen 5 per cent in 2009 to $384,500 but will make up ground next year, increasing five per cent.
The report also predicts rent in Calgary will increase moderately in 2010 as the economy expands and employment grows.
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