CALGARY - A report released today by TD Bank Financial Group says housing starts in Alberta as well as the number of homes sold will retreat in the next two years as the country on the whole experiences a cooling trend in the residential real estate industry.
Also the yearly pace of resale home price growth in the province will slow down substantially from the highs recorded in the past two years.
"A soft landing is anticipated," said the report about the Canadian housing market. "This moderation will reflect the fact that the past rapid price appreciation has eroded affordability and has encouraged additional supply from new listings and new home construction. A weaker domestic economy will also contribute to the cooling."
