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House prices in Edmonton are expected to see another modest bump next year. At least that's according to the latest forecast from Re/Max.
It says prices are expected to finish the year two per cent higher than 2011, and Re/Max is expecting another two per cent increase next year. That would put the average house price in Edmonton at $338,000.
The report from Re/Max says Edmonton's real estate market was "quite healthy" in 2012, with steady gains in activity for the first half of the year, before backing off a little because of the tighter mortgage restrictions. Edmonton is expected to see 17,100 homes change hands in 2011, followed by 17,600 sales in 2013.
Re/Max says low interest rates, low unemployment, strong in-migration, and a vibrant oil and gas sector will all help drive demand for housing. It expects to see brisk sales in the spring, before tapering off later in the year. (bd)