Calgary’s sales, prices set to drop

The Calgary Real Estate Board is projecting that sales activity will decline by more than 2 per cent this year with the annualized benchmark price falling by 3.44 per cent to $438,652. In line with the fourth quarter of 2015 there will be steeper declines in the higher density sector, although all property types are set to depreciate while inventory continues to rise.

Decline in the energy sector remains the chief driver of the weakening housing market: “As we move into the second year of this environment, we expect to see additional housing supply pressure and further price declines,” said CREB chief economist Ann-Marie Lurie. “Weakness in the energy sector is overshadowing all aspects of our economy and with more people looking for work and fewer opportunities, we could see some families making adjustments to their housing situation.”

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Investment Hot Spots:
Pelee Island, Wabamun, Mashteuiatsh, Maricourt, Provost

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address


Is a T.O foreign sales tax a good idea?