RBC Revises Forecast On Alberta’s Housing Market, Prices To Increase In 2015/16

This past January, RBC predicted that Alberta home prices would increase 1.7% this year and then 0.1% in 2016.  Meanwhile, sales were projected to drop -6.5% in 2015 and then -9% more in 2016.

Skip ahead a few weeks to February, and RBC’s Alberta forecast was downgraded:  prices were now expected to fall -0.5% with the caution that “more significant price declines may occur in 2016.” Home resales were to plummet by nearly -16%, over double the previous forecast.

While the latest forecast from RBC is still expecting a significant drop in sales (-17.8) this year, they’re now projecting a 7.1% rebound in 2016.

Prices are again forecast to increase, this time by 0.7% and 2.1% for 2015 and 2016 respectively.

To read the entire RBC forecast, click here

Related news article: Alberta housing market forecast to rebound in 2016

RBC forecast August

RBC price forecast evolution: Jan, Feb, August 2015

3 responses to “RBC Revises Forecast On Alberta’s Housing Market, Prices To Increase In 2015/16

  1. I’ve been watching the RE market in Calgary for over a year now, and I truly don’t believe any reports can predict the % of the increase of decrease that will occur. There are too many variables to predict an exact % change. Having said that, Alberta is dependent on oil, and if oil stays at the level we are at, or anything below $65 per barrel, people will continue being laid off. With that, houses will sell below asking, or sellers will have to price their house more competitively. How long this oil price war will last, no one can predict.

  2. Suleman Ahsan

    I assume at this point there is no point to predict upward momentum
    I am very sure until interest rate low home price will be stable & could be slightly chance to see correction around 5% if oil price stay below $70.

    Enjoy low interest rate and honestly my dad will not give me loan @ 2.1 interest rate.

  3. TD Economics released their updated forecast today and they still expect Alberta (and Calgary) housing prices to fall this year and next

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