In part 4 of our series on the RAE Housing Forecast Seminar 2021, we drill down on the purpose of the seminar: forecasting the year ahead. A bold thing to do in light of the uncertainty we all faced last year, and the aftershocks that a global pandemic has the potential to send into 2021.
“As you can imagine, putting a forecast together for 2021 has had unique challenges,” said Realtors Association of Edmonton Chair Tom Shearer. “We have witnessed varying degrees of confidence for what 2021 has in store, and economic perspectives on what may happen next vary considerably.”
Last year many economists were forecasting a drop in year-over-year and unit sales, volumes, and prices of homes. But, Shearer says, in the majority of major markets,…
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