The British Columbia Real Estate Association released the 2013 Second Quarter Housing Forecast today.
According to the press release, home sales are forecast to increase 1.9% during the second quarter of this year and through 2014. Stricter mortgage rules and slower economic growth in BC has kept British Columbia’s home sales low over the past three quarter according to Cameron Muir, BCREA’s Chief Economist.
In addition to sales, home price forecast has been revised from a decline of 1% to remain unchanged before rising again in 2014.
Please click on the link below for the press release “Transition Year Expected for BC Housing Market” and 2013 Q2 Housing Forecast Update Table.
http://www.bcrea.bc.ca/docs/news-2013/2013-05-09forecast.pdf
As for Richmond residents and prospective residents, here’s the MLS stats for the last 30 days:
Out of the 72 houses that were sold in the past 30 days:
