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After a year of slow sales and modestly declining prices, Edmonton’s real estate market can expect more of the same in 2017.

“We definitely saw dipping sales, but huge stability in prices,” James Mabey, the new chair of the Realtors Association of Edmonton, said after the group released its yearly forecast. “It was unremarkable.”

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At a conference Wednesday at the Edmonton Expo Centre, economists warned the city isn’t out of the woods just yet, and there is broad consensus that things aren’t going to start picking up until about halfway through the year. That is expected to carry over to the real estate market.

The association forecast for 2017 cautions real estate agents to brace for another sluggish year, full of cautious buyers and economic headwinds.

“Last year, buyers enjoyed the best selection and could take a little more time to make their purchase decisions,” said Mabey.

Sellers had to do a lot of work making sure the property was “market-ready” if they wanted to get the price they wanted, he said. This year should be similar.