Welcome to Shannon Babcock Landmark Realty Sign in | Help
Thinking of #Buying or #Selling the #Chilliwack Area? Here's Sales, Average Pricing and Housing Starts Information for the CHILLIWACK & DISTRICT REAL ESTATE BOARD (2013 Fourth Quarter)

Here's Sales, Average Pricing and Housing Starts Information for the CHILLIWACK & DISTRICT REAL ESTATE BOARD (2013 Fourth Quarter)

Consumer demand for housing has improved in Chilliwack since the beginning of the year. The shock of reduced high-ratio mortgage amortizations in 2012 has largely dissipated in the market, while fear of a housing correction has given way to a sense of urgency to lock in a mortgage before interest rates normalize. Home sales were up nearly 27 per cent in September compared to a year earlier. However, sales levels are expected to flatten over the next few quarters as weak economic and employment growth in the province put a tether on consumer demand. MLS

Residential sales in Chilliwack are forecast to edge up 0.6 per cent to 2,020 units this year, before rising 4 per cent to 2,100 in 2014

While market conditions continue to favour home buyers, more balanced conditions are emerging in Chilliwack. Elevated sales activity combined with a 6 per cent decline in total active listings has firmed up home prices. The Chilliwack market is expected to remain at the margin of a buyer’s to balanced market through 2014, with home prices remaining relatively unchanged. As a result, the average MLS

Residential price is forecast to edge up 1.2 per cent to $303,000 this year, and a further 1.3 per cent to $307,000 in 2014.

Momentum from last year’s recovery in Chilliwack CA new home construction has carried through to 2013. Driven by balanced growth in the construction of single and multiple units, total housing starts are currently on pace to finish the year 7 per cent higher at 260 units. Following two years of strong growth in housing starts, we expect new home construction activity will edge back modestly in 2014, declining 3 per cent to a total of 470 units.

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

http://www.cadreb.com

If you'd like to receive information on Active Listings or Sales Details in certain areas or neighbourhoods, Feel Free to ring me or drop me an email anytime. I'm at your service.

Shannon Babcock
Real Estate Professional
#Sutton Group Showplace Realty
Buy Smart. Sell Smart.
Email: sbabcock@sutton.com
Cell:
604-795-1081
www.shannonbabcock.com

Comments

Anonymous comments are disabled