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