Vancouver Real Estate’s Glass Ball

Divine Reasons

Vancouver home Buyers and Sellers seem confused.

Central 1‘s economic swamis looked into their glass ball and divined an Economic Analysis for British Columbia that may provide some answers for the Vancouver home Buyer Seller malaise.

Highlights

  • Provincial home sales to edge down this year by 2.5% to lowest level since 2001 while median price is forecast to fall 3.5%
  • Declines in Metro Vancouver sales to offset gains in other parts of the province
  • Annual sales gains forecast for 2013 and 2014 on but activity will remain tempered.
  • Northern B.C. housing markets to strengthen on commodities-related investment
  • Weak recreational and retiree demand to hamper recoveries in interior and Vancouver Island markets
  • Uncertainties in global economy to keep mortgage rates low
  • Resale market conditions will feed into declining housing starts in the second-half of 2012 and extend into 2013

Central 1 Full Report Here

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.

When Life Moves You - contact Larry:

*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.

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