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CMHC Forecasting House Price Growth in Calgary

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Canada Mortgage and Housing Corp. expects Calgary region home prices to rise over the next two years, albeit at a slower pace than previously forecast.

 

In an updated outlook Friday, it said the average price locally will rise from $460,584 last year to $469,000 in 2015 and $479,000 in 2016.

 

CMHC forecasts price growth are now expected to be in line with inflation.

 

Given lower sales and the pronounced recent increases in new listings, market conditions in Calgary are expected to rebalance, easing the pressure on prices for 2015 and 2016.

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