June 19, 2017 9:44 am
Updated: June 19, 2017 10:30 pm

B.C. remains a seller’s market: B.C. Real Estate Association

A A

The British Columbia Real Estate Association (BCREA) is predicting a decline in home sales of 10 per cent this year.

In its 2017 Second Quarter Housing Forecast, it also predicts a 1.1 per cent decrease in the average residential price to $683,500, but it said that will be caused by a larger proportion of home sales outside the Metro Vancouver region.

READ MORE: City of Vancouver turns to public for ideas on the housing affordability crisis

READ MORE: Housing study shows cheaper suburbs disappearing

BCREA chief economist Cameron Muir said strong employment growth, consumer confidence, and an influx of inter-provincial migrants will continue to be important drivers of the housing market this year.

He says with supply at a 20-year low, it remains a seller’s market in most parts of B.C. and among most home types.

 

 

© 2017 Global News, a division of Corus Entertainment Inc.

Report an error

Comments

Want to discuss? Please read our Commenting Policy first.

Global News