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Buying, Selling or Investing? Check Out the Latest BC REAL ESTATE ASSOCIATION HOUSING FORECAST (Fourth Quarter October 2013)

Multiple Listing Service® (MLS®) residential sales in British Columbia are forecast to increase 6 per cent to 71,700 units this year. While home sales declined through most of 2012, consumer demand has picked up steam this year, culminating in a year-over-year increase of 43 per cent in September. However, rather than signaling a return of accelerated markets and frenetic home buyers, consumer demand is simply transitioning back to long term average levels.  

Sluggish economic growth and the anaemic pace of job creation so far this year is expected to curb growth in housing demand over the next few quarters. Nevertheless, there are encouraging signs that the economy is improving. Housing demand has gained momentum since early in the year, pushing the provincial housing market back towards balanced conditions. The US housing market has also exhibited nascent signs of recovery, spurring BC lumber exports into double-digit growth.

Read More at: http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/housingforecast.pdf 

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