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CALGARY - The average residential MLS sale price in Alberta is forecast to fall by 8.8 per cent this year and another 1.1 per cent in 2010, according to a report released today by the Canadian Real Estate Association.
The association said the average price in the province will dip to $321,900 in 2009 from the $352,857 it recorded in 2008. The average price is also forecast to fall to $318,300 next year.
CREA, in its forecast, said total MLS residential sales will decline by 24.7 per cent this year to 42,450 units compared with 56,399 sales in 2008. But the association said sales will rebound by 13.3 per cent in 2010 to 48,100.
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The association said the average price in the province will dip to $321,900 in 2009 from the $352,857 it recorded in 2008. The average price is also forecast to fall to $318,300 next year.
CREA, in its forecast, said total MLS residential sales will decline by 24.7 per cent this year to 42,450 units compared with 56,399 sales in 2008. But the association said sales will rebound by 13.3 per cent in 2010 to 48,100.
Read the full article here.