CMHC forecast changes

Here are some forecast changes by CMHC over 2007 in the following reports:

CMHC Housing Market Outlook Spring 2007
CMHC Housing Market Outlook Fall 2007
CMHC Rental Market Report 2007

CMHC has changed their forecast(s) for Edmonton a couple of times this year.

Vacancy and two bedroom rent:

This spring the outlook on vacancy was 0.7% the actual vacancy was 1.5%.

Spring 2007 Housing Outlook
2007(f) 0.7% $970
2008(f) 0.5% $1115

Fall 2007 Housing Outlook
2007(f) 1.0% $950
2008(f) 0.8% $1090

October 2007 survey
2007 1.5% $958

MLS Sales

The forecast for sales in 2007 was cut by almost 3,000 and may be lower after December's count.

Residential Sales

Spring 2007 Housing Outlook
2007(f) 24,000
2008(f) 22,600

Fall 2007 Housing Outlook
2007(f) 21,200
2008(f) 20,000

November EREB YTD sales 19,687, assuming 1000 sales in December:
20,700

The forecast change for listings increased from 28,000 to 38,000.