According to the 2012 REALTORS® Housing Forecast Seminar it will be steady as she goes in our local Real Estate market. Price increases will continue to hover around 2% - just like last year!
The volume of sales will also remain steady with this being a “balanced market”
A spokesperson for one of the major banks feels that there may be higher increases than this as he felt the strong economy and the fact that in Edmonton and area the income level is the 2nd highest in the country.
We are also below the national unemployment levels, with it expected that workers will continue to move here. This will also put an increased demand on the housing inventory.
There will be more details in the media over the next few days - or just give me a call!
In short, it looks like the housing market will remain strong, but we just don’t really know how strong at this stage!