What happens to Calgary housing prices in 2016? V2.0
CREB Forecast has pricesdropping 3.44% with apartment style condos being hit the hardest. A thread was created for 2015's projection with 54% of people believing prices would drop more than 5% while while 42% expected prices to be down 5% or less. There were a few posters who felt 2015 was in store for a 20+% correction
Prices eventually were down less than 5% which takes us to this years CP forecast. I personally ignore forecasts as they are next to impossible to be accurate with in our market. We are all capable of coming up with our own forecast. Last years CREB forecast had a 1.5% growth estimate.
Where do we see 2016? Obviously there are so many factors and when a client or potential client asks me, I tell them that their guess is as good as mine. With that said, I predict prices dropping upwards of 7% in the first 2 quarters of 2016 with some stability coming in Q3 and Q4 to finish the year down 4.5%.
I was extremely close on my 2015 prediction initially believing a 5% decrease which I changed to 3%.
What was your prediction last year and what do you predict this year?
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