November 2013 - Pacific New Homes


B.C. housing rally expected to continue through 2014

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A rally in British Columbia’s housing market is expected to extend through 2014 as the provincial economy gathers steam.

Sales on the Multiple Listing Service are on pace to reach 71,700 units in 2013, up 6 per cent from last year’s sluggish showing, says the B.C. Real Estate Association.

With consumers concerned about the prospect of higher interest rates over the next year, many British Columbians are locking in mortgage preapprovals and shopping for homes, said Cameron Muir, the association’s chief economist.

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