Most of the major cities in Canada are expected to see an increase next year, but Calgary’s median price is anticipated to drop.
The annual Royal LePage Market Survey Forecast released on Tuesday, showed increases for Vancouver, Ottawa and Toronto, while cities in Saskatchewan and Alberta could see a decrease.
Calgary is expecting a decrease of 2.3 per cent, making the median home price $473,104 by the end of 2019.
in an interview with 660 news a Realtor with Royal LePage Benchmark, John Hripko, explained the reasons behind the price drop.
“I believe a lot of people are waiting or hesitating to proceed in so as purchasing homes, because of the impeding lack of action on both pipelines going to the west coast, down south and even the Energy East pipline.”
The numbers could change in Alberta, as this is just a prediction. The provincial and federal elections are set to take place in a few months, which could shift the markets.
According to the forecast, Vancouver will continue to have the highest median house price at $1.29 million and Winnipeg with the lowest price of $309,829.