Friday, August 22, 2008

CMHC Forecast Changes

The post will compare CMHC 2008 housing forecasts taken at different times in their Housing Outlook reports. The forecast is for yearly totals for sales and listings and yearly averages for prices.

CMHC Forecasts for Edmonton 2008
Resale Spring 2007 Fall 2007 Spring 2008
Sales 22,600 20,000 18,500
Listings 29,000 29,000 43,000
Price $374,000 $360,000 $350,000

CMHC Forecast for Calgary 2008
Resale Spring 2007 Fall 2007 Spring 2008
Sales 33,250 31,700 26,000
Listings 57,750 57,750 62,000
Price $473,000 $450,000 $429,000

2008 Actual Prices
Month Edmonton Calgary
January $332,051 $408,672
February $338,347 $415,017
March $343,760 $419,396
April $336,931 $414,006
May $340,499 $418,881
June $341,376 $418,866
July $335,100 $413,738

These forecast have been lowered a couple times and it they will still be overly optimistic compared to what has occurred so far this year.

7 comments:

squidly77 said...

Edmonton resale housing market not “plunging” say REALTORS®
special aug ereb report

Brent said...

CMHC forecasting near worthless

Jim_s said...

"near"?

->

Brent said...

Let me rephrase that.....

CMHC forecasting is useless.

LOL

Anonymous said...

the ereb report is miss printed
the correction

" Edmonton resale housing market
near " plunging .....

Carioca Canuck said...

And who gives out the CMHC forecasts ?

"Liar" Sing Louie.....

squidly77 said...

REIN parasites