Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.
November 2013 - Pacific New Homes
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.
Investigative journalist Ian Young discovered Canada’s investor immigrant program has attracted 36,892 rich immigrants to British Columbia over the past eight years, of whom 66 per cent were mainland Chinese. Nearly all of these millionaire households have settled in Metro Vancouver.
The Real Estate Board of Greater Vancouver Housing Market Update for October 2013 with REBGV President Sandra Wyant.
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LAUNCH: APRIL 30, 2013
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