BCREA Spin

Moderate

Our friend Cameron Muir, the Chief Economist at BCREA says it all in his latest report.

In a Nut Shell

“Home sales have moderated since the beginning of the year,” said Cameron Muir, BCREA Chief Economist. Waning pent-up demand and eroding affordability were key factors in the market. “Despite an improving provincial economy, higher mortgage interest rates and tighter credit conditions for low-equity homebuyers and investors will squeeze some prospective buyers out of the market this spring,” added Muir.

Numbers

  • residential sales climbed 43% to 7110
  • seasonally adjusted MLS sales up 6% since February 2010
  • BUT – homes sales in March were 20% lower than December 2009
  • First quarter results say sales are up 64% over last year
  • Average MLS residential price price climbed 19% over the same period

Full Report

About Larry Yatkowsky

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Boombust Says:
April 13th, 2010 at 5:24 pm

The guy is an idiot.

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