The British Columbia Real Estate Association (BCREA) recently released its 2014 Second Quarter Housing Forecast.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 5.2 per cent to 76,700 units this year, before increasing a further 6.7 per cent to 81,800 units in 2015. The five-year average is 75,400 unit sales, while the ten-year average is 84,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.
“BC Home sales are expected to trend higher this year and in 2015, as stronger economic conditions both at home and abroad bolster consumer demand,” said Cameron Muir, BCREA Chief Economist.
Click here to view the full BCREA news release and housing forecast.
Source: The British Columbia Real Estate Association (BCREA)