CREB® released its 2015 housing forecast report on January 14, 2015 during the organization’s annual conference and tradeshow.
Click on the link to view the 2015 CREB Forecast Report.
Calgary’s regional housing market in 2014 benefited from strong demand due to positive economic fundamentals.
In 2015, however, several factors are pointing toward a pullback. While overall employment levels are forecasted to remain steady, a drop in net migration, coupled with expected lending rate increases and energy sector uncertainty will impact housing demand. While, supply levels are expected to rise.
Given previously tight market conditions, rising supply will simply push the market toward more balanced conditions, supporting price stability.
• The global economy underperformed in 2014, mostly due to weaker than expected growth in the United States, Europe and China. It’s expected to improve in 2015 due to the accelerated pace of growth in the U.S. economy.
• Europe’s fragile economy continues to be at risk due to lingering issues with labour markets, persistently low inflation and elevated risk. Modest growth is expected in 2015 based on the combined effects of rising world demand, policy changes and structural reforms within the region.
• According to the Bank of Canada, emerging market growth varies signifi cantly by location. Areas such as India and Indonesia are benefi ting from successful political transitions, while structural reforms in Mexico are fostering growth. Brazil, Russia and Turkey, however, are experiencing weaker growth as a result of political or geopolitical tensions. While market divergence will persist, economic growth in the U.S. will strengthen emerging markets through to 2016.
For the more information and the whole report, click on the link to view the 2015 CREB Forecast Report.
0 comments on “2015 Forecast Report”