Tunnel Thoughts

Bright Lite

“’Real Estate Economists’ are people who, when they see light at the end of the tunnel, go out and buy some more tunnel.” John Quinton – Adapted

The British Columbia Real Estate Association (BCREA) – the bastion of good real estate news, is all bright and shiny about 2011.

Our good friend Cameron Muir, BCREA’s Chief Economist has once again issued real estate sunshine.

Muir’s Musings

• “The volatility in consumer demand characteristic of the past 24 months is expected to give way to more gradual improvement through 2011,” said Cameron Muir, BCREA Chief Economist. “Housing demand has fallen back to earth from its break-neck pace at the end of 2009 and is expected to more closely match overall economic performance over the next 18 months.”
• “The volatility in consumer demand characteristic of the past 24 months is expected to give way to more gradual improvement through 2011,” said Cameron Muir, BCREA Chief Economist. “Housing demand has fallen back to earth from its break-neck pace at the end of 2009 and is expected to more closely match overall economic performance over the next 18 months.”
Photo Credit
• “The average MLS® residential price is forecast to climb 6 per cent to $492,800 this year and remain relatively unchanged in 2011, albeit declining by 1 per cent to $489,500.”

Source – BCREA Q3 Forecast

BCREA Full Report

Reprinted with permission of BCREA