BC HOME SALES TO RISE
Good morning Abbotsford and Mission. Every month we try and offer you some local content for your enjoyment on your different social media new feeds. So here we go; The latest forecast from our real estate association’s economist states that with low interest rates and population growth, housing demand will be strengthened in BC. Total 2015 sales are expected to rise 2.4% to 85,050 units and a further 3.9% to 89,400 in 2016. The 10 year average is 82,100 units.
- 2015 sales are expected to rise 2.4%
- 85,050 units to be sold this year – 2015
- 89,400 units to be sold in 2016
- 10 year average is 82,100 units
- House Values Expected to go up to $594,000. An increase of 4.5%.
The average price for home sales is expected to go up to $594,000 this year which is an increase of 4.5%. Most of this should be in the south coast area.
The decline in oil prices will affect some areas of BC more, but the effect it will have on the overall Canadian economy is still undecided. In my opinion, the local market will be steady with the Fraser Valley forecast suggesting a 4.2% increase in sales in 2015 followed by a 3.5% increase in 2016.
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