Alberta housing market starting to slowdown says BMO

Alberta housing market starting to slowdown says BMO

Alberta housing market starting to slowdown says BMO The slowdown in the energy sector is beginning to affect the real estate market in Alberta. A senior economist at the Bank of Montreal Sal Guatieri says that cracks are starting to appear in Calgary with listings increasing 42 per cent during 2014 while sales have slowed to 7.5 per cent. Prices were up almost 9 per cent according to CREB data this week but Guatieri expects a slowdown, possibly leading to falling prices this year. BMO’s chief economist said this week that he expects growth throughout Alberta to be half that of last year. Read the full story.