Los Angeles County Property Market Soars by Record $100 Billion
Property values in Los Angeles County are projected to rise by a record $100 billion this year, providing a boon to municipal coffers on the back of a hot housing market.
Jan 25, 2022
Calgary housing sales to moderate this year, but prices will rise: Board
The Canadian Press
Calgary homes are expected to rise 4% this year
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CALGARY - The Calgary Real Estate Board says it expects the city's housing market activity to moderate this year after record sales were experienced in 2021, but tight conditions will linger.
The Alberta board is forecasting the city will see 25,598 sales this year, down from 27,686 last year and 16,149 in 2020.
CREB says rising lending rates will cool some demand for housing, but sales will still be strong because many were able to save more money during the COVID-19 pandemic.
CREB is predicting annual price growth will slow to four per cent this year, down from more than eight per cent last year, when the average price of a home totalled $585,275.
The board expects supply levels will eventually improve relative to demand this year, especially after last year's surge in housing starts.
However, CREB chief economist Ann-Marie Lurie says the current tight conditions will stick around until at least spring and could result in one of two scenarios.
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