Inventory rose 19 per cent in May, B.C. Real Estate Association reports
The number of B.C. home sales is forecast to drop this year even as housing prices for the year are expected to rise from 2009, said a new report.
Average home prices are anticipated to climb by six per cent this year over last, to $494,600, said Cameron Muir, B.C. Real Estate Association chief economist, said in his housing forecast released yesterday.
“That really represents the price increases that have already happened.” Prices reflect sales of all types of homes sold through the multiple listing service.
“We are looking at quite stable pricing going forward,” Muir said from Vancouver.
Next year will see average prices for homes rise by one per cent to $499,700, he said…
Posted by: By Carla Wilson, Times Colonist June 8, 2010
Date: June 8, 2010