B.C. posts dramatic drop in July real estate sales
Filed Under Main Content · Tagged: British Columbia, Cameron Muir, Chief Economist, Decline, Dramatic Drop, Extent, Favour, Fraser Valley, Multiple Listing Service, Quot, Real Estate Association, Real Estate Sales, S Real Estate, Sharp, Vancouver Sun, Vancouver Victoria
The Vancouver Sun- A year ago, British Columbia’s real estate markets were rising to a peak in sales. In July, they dramatically fell off it.
Sharp drops in sales in B.C.’s biggest markets led the province to a 42-per-cent decline in July sales through the Multiple Listing Service compared with the same month a year ago, the B.C. Real Estate Association reported Thursday.
"What we’ve seen is that the province was buoyed up by Vancouver, Victoria and to some extent the Fraser Valley earlier in the year as those markets were very strong indeed," Cameron Muir, the association’s chief economist, said in an interview.
"Now of course, those markets have shifted back toward being more in favour of buyers, so they’ve brought the entire province into that category…”
B.C. posts dramatic drop in July real estate sales
Home prices to jump as total sales fall, forecast predicts
Filed Under Main Content · Tagged: Demand Patterns, Greater Victoria, House Prices, Quot, Real Estate Association, Recession, Sales Forecast, Times Colonist, Victoria House
Times Colonist- Greater Victoria house prices will climb this year even though total sales are projected to dip from 2009, according to a new forecast from the B.C. Real Estate Association.
"B.C. housing markets are returning to typical post-recession demand patterns," the association said in its third quarter update yesterday.
This year, total Greater Victoria sales are expected to drop to 6,800, from 7,660 last year, the update said. Next year, sales will climb slightly to a total of 7,150…
Home prices to jump as total sales fall, forecast predicts
B.C. home sales to fall while prices climb, analyst predicts
Filed Under Main Content · Tagged: Cameron Muir, Chief Economist, Housing Prices, Multiple Listing Service, Price Increases, Quot, Real Estate Association, Sales Forecast
Times Colonist- The number of B.C. home sales is forecast to drop this year even as housing prices for the year are expected to rise from 2009, said a new report.
Average home prices are anticipated to climb by six per cent this year over last, to $494,600, said Cameron Muir, B.C. Real Estate Association chief economist, said in his housing forecast released yesterday.
"That really represents the price increases that have already happened." Prices reflect sales of all types of homes sold through the multiple listing service…
B.C. home sales to fall while prices climb, analyst predicts
Housing market expected to moderate this year and next: CMHC
Filed Under Main Content · Tagged: Canada Mortgage And Housing, Canada Mortgage And Housing Corporation, Chief Economist, Cmhc, Dugan, Government Of Canada, Housing Market, Housing Starts, Insurance, Measures, Mortgage Insurance, Post Canada, Quot, Term Stability
Financial Post- Canada’s housing market is expected to ease in 2010 and 2011 as the market returns to more balanced conditions, Canada Mortgage and Housing Corporation said Wednesday.
"Canadian housing markets have recovered from the low levels posted in early 2009," Bob Dugan, chief economist for CMHC, said in a release.
"Moving forward, housing starts will moderate as activity becomes more in-line with long term demographic fundamentals. New measures for government-backed mortgage insurance introduced by the government of Canada that took effect on April 19, 2010 will continue to support the long-term stability of Canada’s housing market…”
Housing market expected to moderate this year and next: CMHC
