Calgary Real Estate
Calgary has a very dynamic real estate market that has seen more than it’s share of boom and bust cycles.
Most of the time the market is either good or booming, with only a few periods where there is a bust. The most recent downturn started in 2008 with the financial crisis and recession. Right now in February of 2015, many are predicting a slowdown and some are predicting a crash.
This all depends on oil prices. If you think prices will rebound to the $100 range within the next few months, then there won’t be much of an impact on prices, although there is certainly downward pressure on prices right now.
If you are one of the people with a really negative view of oil, and think that prices will stay in the $40 to $50 range for a couple of years, then you have to believe that we will see a substantial drop in real estate prices. Will the drop be as much as we experienced in 2008 when some home prices dropped by 20% ?
The fact is that no one knows what will happen because it is all totally out of our control as I explain here
For some great real estate information and all the statistics you could ever want go to the Calgary Real Estate Board website