The Calgary Real Estate Board has released their market forecast for 2011. Below I have highlighted some key areas you may find of interest.
MLS RE-SALE HOMES
| MLS RE-SALE HOMES | 2009 | 2010 | 2011 Forecast | Change | Forecaster |
| Single Family Sales | 14,400 | 12,095 | 14,500 | 19.9% | CREB |
| Single Family Listings | 22,459 | 25,709 | 25,000 | -1.6% | CREB |
| Single Family Average Price | $442,327 | $461,144 | $480,000 | 4.1% | CREB |
| Condo Sales | 6,328 | 5,181 | 6,000 | 15.8% | CREB |
| Condo Listings | 10,323 | 11,423 | 10,000 | -12.5% | CREB |
| Condo Average Price | $283,734 | $289,697 | $295,900 | 1.8% | CREB |
| Town sales | 3,943 | 3,525 | 4,000 | 13.5% | CREB |
| Town Listings | 8502 | 8828 | 9,000 | 2.0% | CREB |
| Town Average Price | $352,704 | $359,327 | $368,500 | 2.6% | CREB |
New Homes
| New Homes | 2009 | 2010 | 2011 Forecast | Change | Forecaster |
| Starts – Single Family | 4,200 | 5,600 | 6,000 | 7% | CREB |
| Starts – Multi Family | 1,350 | 3,600 | 4,000 | 11% | CREB |
ECONOMIC INDICATORS
| Economic Indicators | 2009 | 2010 | 2011 Forecast | Change | Forecaster |
| GDP | -2.8% | 2.7% | 4.15 | 1.4% | Govt of Alberta |
| Calgary Net Migration | 12,920 | -4,154 | 10,000 | 340% | CREB |
| 1 Year Mortgage Rate | 4.05% | 3.83% | 3.5% | -.33% | CMHC |
| 5 Year Mortgage Rate | 5.5% | 5.75% | 5.75% | 0 | CMHC |
| Oil Price (USD) | $60/BBl | $79.BBL | $90/BBL | 13.9% | Govt of Alberta |
| Gas Price (USD) | $3.75/NMBTU | $4.00/NMBTU | $6.00/NMBTU | 50% | Govt of Alberta |
| Calgary Employment Growth | -1.4% | 1.3% | 2.0% | .7% | City of Calgary |
The entire package with detailed explainations is availiable at CREB FORECAST. COM
If you have specific questions about this report or about the Market today please contact me directly.
Brought to you by Gord Piper and Associates.