The preliminary word from the 2019 CREB Forecast conference is that the 'persistently weak demand and excess supply in the Calgary market are expected to cause further price declines in 2019 however, the pace of decline is expected to ease by the end of the year, as concerns over the economy ease'.
So - as a buyer, does that mean you should hold out and wait for 'even lower' pricing to buy?
If we take a look at the weight of the economic impact-this time-we can see that pricing on the whole, while it has indeed seen some dips - shows a persistent increase through the trend line. Are you sure you want to take a gamble when you look at the trend graph?
Our thoughts based on what we see right now:
1/ the pace of decline is expected to ease - what does that mean, when is it expected to ease?
2/ the lending institutions in Canada are now exploring with the government, solutions to how the new rules have dramatically affected the various markets across the country
3/ currently we are seeing the same institutions competing again with mortgage rates
4/ with both the provincial (spring) and federal (fall) elections due this year, everything could change