Fewer newcomers will mean weaker housing demand, lower prices, say experts
Fewer newcomers to our city will translate into weaker housing demand and lower housing prices for the foreseeable future, say housing experts.
According to the City of Calgary’s 2016 census released last month, more than 6,500 people left the city between April 2016 and April 2015. The 4,256 population jump to 1.235 million was primarily attributed to an increase of births versus deaths.
“Not surprisingly, the overall impact of lower population growth in Calgary will weigh on its real estate market,” said ATB Financial economist Nick Ford. “Housing prices may continue to slide lower in all areas of the city as a result of declining demand.