November 2018

Found 1 blog entry for November 2018.

 

 

 

 

 

 

 

 

 

The British Columbia Real Estate Association (BCREA) recently released its 2018 Fourth Quarter Housing Forecast.

Multiple Listing Services (MLS) residential sales in the province are expected to decline 23% to 80,000 units by the end of the year, after recording 103,768 residential sales in 2017. Although those numbers are not ideal for home sellers, don't let it discourage you. MLS residential sales are forecast to increase 12% to 89,500 units in 2019. The 10-year average for MLS residential sales in the province is 84,800 units.

 “The marked erosion of affordability and purchasing power caused by the mortgage stress test and rising interest rates continue to be a drag on the housing demand,” said

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