A struggling energy sector continues to weigh on the overall economy. Unemployment levels remain elevated and income growth remains weak.

However, Calgary continues to benefit from stable population growth fuelled by international migration and natural increases.

“With current economic conditions, we expect housing demand will remain similar to levels recorded last year,” said CREB® chief economist Ann-Marie Lurie. Supply continues to adjust in the resale market, as well as the new-home and rental markets. Reductions in housing supply are expected to move the resale market toward more balanced conditions and support price stability by the end of the year.

“While supply declines are expected to support price stability by the end of the year, on an…

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