Thursday, June 02, 2011

Calgary Edmonton Recovery Cycle

"An improving Alberta economy will lead to employment growth and an increase in the number of people moving to Calgary, which will be good news for the region's housing market in the next two years.

A report by Canada Mortgage and Housing Corp. forecasts MLS sales in the Calgary region to increase by nearly five per cent this year compared with a year ago, while the average sale price will rise by just over one per cent."

We’ll still see ups and downs for a while longer while we head into improved upward momentum. The next 18 to 24 months will be steady for Calgary and Edmonton, and then we should move into full recovery cycle (meaning 2 years into a 5-7 year cycle). Calgary generally dictates the direction of Edmonton, so we watch and welcome their increase in home prices. If you factor in 3% appreciation per year over the next 5 years you should be on track.

Read More Here

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