In today's blog we have two items of note we are excited to share!
The first comes from Ken Richter, who writes, "I would like to personally Thank my Team, Family and all of my Valued Clients for their continued support contributing to my success as a "2021" Year-End "TOP 4" Individual Real Estate Agent at RE/MAX Real Estate (Central), the #1 Selling RE/MAX Office Worldwide for 22 Years!" This is a major accomplishment and great news to kick off the 2022 New Year!
Second, the Calgary Real Estate Board has released their 2022 Calgary Real Estate Market Forecast Report. This is a valuable report for buyers, sellers and investors to read and understand, as it gives insight into the market that will help you strategically make decisions for the upcoming year. Here are some of the highlights from their report:
- "Housing market activity in 2022 is expected to moderate relative to record levels of activity in 2021, while remaining stronger than historical levels."
- "Rising lending rates are expected to cool some of the demand later this year."
- "Economic improvements are also expected to support both job and population growth, adding new sources of demand for housing."
- "New listings have improved, but it has not been enough to offset high sales levels, keeping inventories relatively low and likely limiting sales growth in the market."
- "As the market balance gradually improves, upward price pressure in the housing market should ease. Overall, price growth is expected to ease to four per cent in 2022."
Calgary Real Estate Board Chief Economist Ann-Marie Lurie writes, "Despite challenges with COVID-19, we are starting to see a turnaround in our job and migration numbers, and while interest rates are expected to rise, they remain relatively low. All these factors are expected to support strong housing demand into 2022. The biggest question will be whether supply can meet that demand. It will take time for housing to move out of sellers’ market conditions, so we do anticipate prices will continue to rise this year.”
You can read the full report by clicking here.
Ready to make your move? Contact Ken Richter today at 4003-630-6363 or email Ken@KenRichter.com
(Photo via RE/MAX, with permissions)