BCREA Housing Market Update for June 2015
BCREA Housing Market Update for June 2015. BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the May 2015 statistics.
MLS Listings, News & Statistics
Real Estate Statistics For Kamloops And The Surrounding Communities
BCREA Housing Market Update for June 2015. BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the May 2015 statistics.
Vancouver, BC – June 1, 2015. The British Columbia Real Estate Association (BCREA) released its 2015 Second Quarter Housing Forecast today.
“More robust economic growth, strong consumer confidence and rock-bottom mortgage interest rates are expected to push housing demand this year to its highest level since 2007,” said Cameron Muir, BCREA Chief Economist.
Multiple Listing Service® (MLS®) residential sales in British Columbia are forecast to rise 12.1 per cent to 94,300 units this year, before edging back 2.9 per cent to 91,600 units in 2016. The ten-year average is 83,600 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.
Stronger consumer demand combined with fewer homes available for sale is forecast to push the average MLS® residential sales price in the province up 7.4 per cent to $610,500 this year. Modest upward pressure on mortgage interest and rising new home completions are expected to ease pressure on home prices in 2016. The average MLS® residential sales price is forecast to increase by 1.7 per cent to $621,000 in 2016.
The BCREA released the latest housing market update for May 2015 on their Youtube channel. BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the April 2015 statistics.