Housing Forecast

Oct. 26, 2007 | Market Update | By Aaron Rossetti

The Metro Vancouver housing market remains strong, with forecasts by the British Columbia Real Estate Association (BCREA) estimating sales to reach 100,000 units. This will mark the second highest unit sales on record, falling short of the record set in 2005 when 106,310 units were sold through the Multiple Listing Service.

Forecasts predict strong demand remaining in 2008 driven by a "robust Canadian economy," which is keeping unemployment low and bringing workers to our communities. However, prices are expected to grow at a slower rate than witnessed in 2007 as the high cost of properties is keeping some buyers out of the market.

For the complete Housing Forecast by the BCREA click here.

To learn more about the your local market and to get an idea of the value of your home please contact us, we would be pleased to hear from you.