CREB: Calgary sales to ease by 4 per cent

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The volume of home sales in Calgary is predicted to ease by 4 per cent during this year due to economic uncertainty but prices will remain “relatively stable.” That’s according to the Calgary Real Estate Board which notes that employment levels and net migration may reduce its forecast of 24,503 sales in the city this year. CREB chief economist Anne Marie Lurie commented that things are not expected to hit the lows of the financial crisis: “With economic indicators remaining more positive in this period, the pullback in housing is not expected to mirror activity during the 2009-2010 period.” She also noted that last year’s sales activity was almost 15 per cent higher than long term trends while this year will be more in line with the trend. There is also expected to be greater supply across all price ranges and property types, giving buyers a better choice but sellers may have to be prepared to lower expectations. 

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