Today, CREA released an updated forecast for 2014 and also extended the forecast period into 2015.
Alberta home sales are expected to increase 0.8% this year and another 3.9% in 2015. The average price in our province is projected to increase 3.9% in 2014 and another 2.5% in 2015. If CREA’s estimates for 2015 are accurate, that would mean Alberta would lead the nation for sales and price growth next year.
You can download the entire forecast here
It can be difficult to keep track of CREA’s forecasts with them revising it every few months. I’ve compiled their last four forecasts into a chart for you to compare. For the most part it seems CREA has been too bullish on their sales predictions while underestimating prices.