Buyers and sellers will be on a more equal footing this year, real estate brokers say. (CBC)

The real estate market in Alberta appears to be on the rebound, experts in the field say.

House sales will increase as by as much as 10 per cent in many communities this year, the Canada Mortgage and Housing Corp. says, with prices in Alberta predicted to rise between four and five per cent.

That means buyers and sellers will be on a more equal footing, some realtors say.

"It was a buyer's market going into the year — in sort of the fall area it had slipped into almost a seller's market," said Gary MacLean of Remax.

However, he said, current conditions suggest the market has settled considerably. "Nobody has an advantage either way, buyer or seller."

The CMHC's regional economist, Lai Sing Louie, said an increase in demand means even places hit hard by lower oil prices last year will recover.

"Grande Prairie was very soft because of the downturn," he said. "Fort McMurray also was impacted by the drop in oil prices, which have recovered quite significantly."

Nevertheless, he said, a market like Canmore still has a lot of homes and condos for sale.

"And with economic downturn that impacted some incomes … the second house is really a luxury to some extent, so that market will take a little more time to recover."

Immy Gangji, with CIR Realty in Calgary, said the rebound in the real estate market depends on one crucial factor.

"It's the first-time homebuyer that starts the domino effect," Gangji said. "If the first-time homebuyer is not buying then that move-up buyer is not buying and so on and so on. So first-time home buyers are definitely the critical marketplace."

At the moment, Gangji said, condos and homes below $450,000 are the best sellers.