CREA Updates Resale Housing Forecast For 2014/2015

CREA forecast update

CREA forecast update (click to enlarge)

The Canadian Real Estate Association (CREA) has updated its forecast today  from the previous one released back in June.  I’ve combined the figures from that release with today’s for an easy side-by-side comparison (See chart above)

CREA boosted Alberta’s sales outlook for this year from 68,600 to 71,200.  In 2015 sales are now predicted to reach 71,900, up from 69,300.

Average prices are also expected to increase slightly more than previously thought.  CREA projects that the average price in Alberta this year will now reach $400,200, up $900 from June’s forecast while only a 1.9% increase to $408,000 is in store for 2015.

You can read CREA’s forecast update here pdf

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