British Columbia Real Estate Association’s (BCREA) spring Housing Forecast was released today. In it, their Cheif economist, Cameron Muir, forcasts a move into a balanced market. With listings up by 24% and sales volumes down 14% in the first quarter of 2008, he speculates that this trend should dampen the ferocious upward price pressure BC has experienced over the past few years due to a robust economy, low unemployment and intense migration. BC's economy is forcast to outperform most of Canada at 2.5-2.9% growth year over year for 2008 and 2009.
Click here for the full BCREA report.
By Sam Wyatt, Vancouver Real Estate Agent.
