The notorious 2016 is behind us! But what does that mean? What lies in the year ahead?
We kicked off the new year by soaking up all of the information from the Realtors Association of Edmonton’s 2017 Housing Forecast. The event featured both city and provincial economists, as well as the chair for the RAE.
While it seems that we are not out of the woods yet, there are expectations that the second half of 2017 will be the start of the road to recovery for Edmonton.
Key takeaways are listed below, if you want to check out the full event on video, click the links below.
RAE Housing forecast: video 1 , video 2
2017 Forecasting Key Points
Average Prices
- Single Family homes prices are projected to go down 2%
- Condos Prices are expected to drop by 4%
- Duplex/rowhouse are expected to stay relatively flat with a decrease of 0.5%
Rentals
- Vacancy rates currently at 7%, will begin to lower heading into 2018
Edmonton Market
- Our population base will continue grow
- Unemployment likely to peak in the first half of this year, job growth to resume in the second half of 2017
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