Another healthy jump in real estate sales across the Lower Mainland in June is putting some areas “on the cusp” of a seller’s market where demand outstrips supply and pushes prices higher, according to reports released Thursday by the region’s major real estate boards.
The most recent sales results fit with Central 1 Credit Union’s latest housing forecast, which estimates that the surprise cut in mortgage rates earlier this year will produce a modest, steady rise in housing demand even as interest rates move higher in coming years. Read more here
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The housing market in British Columbia will post stronger sales and increasing prices over the next few years, according to Central 1 Credit Union’s B.C. Housing Forecast, released July 3, and this will be driven in large part by the Lower Mainland.
An improving labour market and a dip in mortgage rates will lead a rebound from the weak climate seen in 2013, and the median home price across all housing types is expected to hit $595,000 by 2017. Read Article here |
AuthorRasam Hafezi: Archives
March 2015
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