Calgary Real Estate Board's Forecast 2014...
Employment will grow.
Migration will weaken, but the increase from the last two years will continue to apply pressure to the market.
GDP will grow.
Mortgage Rates will remain low.
Rental vacancy will remain virtually non-existent.
The listing inventory will remain low.
All of the above indicators will put pressure (growth) on the housing market, and as the inventory is already low, prices are will be driven up.
Rejection of Pipeline Expansion
US Economic Expansion & Stable conditions in EU
Supply levels in both new home and resale market are expected to improve. However, if the rise in demand outpaces supply, price growth could once again exceed expectations.
Looking forward to a fantastic 2014
Sharon and Darren