The British Columbia Real Estate Association (BCREA) released its 2014 Third Quarter Housing Forecast Update.
“Stronger than expected consumer demand in the third quarter triggered an upward revision in the housing forecast,” said Cameron Muir, BCREA Chief Economist.
“Rising consumer demand is now broad-based across the province, with some of the largest year-over-year gains occurring in the Okanagan and the Kootenay regions.”
What is the Forecast for BC Real Estate Sales?
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 9.8 per cent to 80,100 units this year and another 4% in 2015. BCREA has increased their forecast.
The 15-year average is 80,400 unit sales and a record 106,300 MLS® residential sales were recorded in 2005.
What is the Forecast for BC Property Prices?
The average MLS® residential price for the province is forecast to increase 5.6 per cent to a record $567,300 this year and a further 1.4 per cent to $575,400 in 2015. New housing is expanding rapidly and will keep a lid on home prices for the next two years.
Allright! Allright! Allright!
My Areas of Expertise:
- Second Home Property buyers and sellers
- Tenant Occupied Property buyers and sellers
- Downsizing and trade up sellers
- New Home Buyers
- First time buyers
Why Hire Maggie Chandler as your Vancouver Realtor?
- I am a full-time Professional and offer a high calibre service
- You can count on my decades of hyper-local knowledge and expertise
- I’ve marketed and sold over 1,000 properties in Vancouver
- I understand the real estate in Vancouver’s waterfront neighbourhoods, its history and its evolution
- I know Vancouver Penthouses, waterfront condos, townhomes, heritage condos, lofts and luxury real estate
- Contact me to learn more about Vancouver’s waterfront neighbourhoods
- Let me help you find the right home or investment property!
- Author Maggie Chandler 1648 W. 6th Ave., Vancouver, BC V6J
[gravityform id=1 name=ContactUs]