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.”
  • “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

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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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:

Captain Jack Says:
July 31st, 2010 at 12:16 am

And if you believe this then you the greater fool! RE propaganda machine at work again.

July 31st, 2010 at 6:42 am

@Captain Jack
Captain, you know that Mr. Muir is just doing his job – no more or less than you and I. 🙂

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