Altadore Market Forecast
As the oil and gas industry slowly begins its rebound from the economic downturn over the past two years, we are cautiously optimistic that the worst is behind us. With predictions for a progressively stronger job market over the next four years, we are hopeful that the promise of increased economic stability will create a greater demand for housing throughout Calgary.
With increased confidence on the horizon, builders are slowly resuming their pursuit for land in preparation for a livelier market, especially in the highly sought-after communities surrounding Marda Loop. Given that inventory levels in the new home sector have shifted markedly over the past two years from substantial over-supply to a dwindling lack of homes in the entry level sector, homeowners in Altadore can anticipate improved market conditions in the resale sector as low inventory levels continue to plague purchasers with limited options.
Our expectation is that relatively low inventory levels for new homes will persist through the first few months of 2017, presenting Altadore homeowners with an opportunity to capitalize before product that is currently under construction ushers in more selection for prospective homebuyers in mid to late 2017.
Thomas Ferianec URBAN UPGRADE REAL ESTATE TEAM Re/Max House of Real Estate