Home Sales in BC to Rise 5 Per Cent This Year
“Home sales will post some modest gains over the next two years,” said Cameron Muir, BCREA Chief Economist. “However, positive housing fundamentals like job growth, rising wages and an expanding population base will be somewhat offset by higher borrowing costs over the next eighteen months.”
“Following a decade where unit sales broke all records, consumer demand over the next few years
will be relatively moderate,” added Muir. The ten-year BC MLS® residential sales average is
87,000 units. A record 106,300 MLS® residential sales were recorded in 2005.