Download CREB’s December 2012 Housing Report which also has year-end stats: (click here)
Another year is in the books and it was a remarkably active one for the Calgary market despite another round of mortgage rule tightening. Was Calgary’s boom credit-driven like other markets? If so, why hasn’t it shown the same slowdown other cities across Canada are experiencing en masse?
Prices and sales increased across all three market segments in 2012 while sellers were in short supply compared to previous years.
2012 Calgary Real Estate Forecast Report Card
CREB’s original forecast back in January 2012 for SFH was quite accurate, but underestimated the resilience of the Calgary condo market.
CREB predicted SFH sales to increase 12.2% (Actual: 15% ) Meanwhile, the average price was forecast to rise 2.05% y/y. (Actual 3.16%) You can’t get any closer with a forecast than that!
You can read a preview of CREB’s 2013 forecast here