Jan. 12, 2016 | Carl Patzel
Surrounding region's housing market to be similarly impacted by sluggish economy: CREB®
The resale residential housing market surrounding Calgary is expected to feel the pinch from a sluggish provincial economy, with prices facing downward pressure from slower sales activity.
In CREB®'s 2016 Economic Outlook & Regional Housing Market Forecast, chief economist Ann-Marie noted Airdrie and the Rockyview and Foothills regions will face similar conditions as that within Calgary.
"The resale residential housing market outside of Calgary will face the same macro-economic influences on housing demand as those within the city in 2016," she said, noting each area will have its own set of circumstances that will influence supply, demand and prices.