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The average MLS sale price for a single-family home in the city will drop by 2 per cent this year while for condos it will decrease by 5 per cent, says the Calgary Real Estate Board in its annual forecast released today.
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Personally, I don't put much stock into what CREB says and I think prices are going to drop much more than 2%. I think they dropped 2% within the first day of 2009. There is a glut of supply and not enough demand to to even it out even with Spring and Summer coming up.