For immediate release
Housing Market Rebound to Extend Into 2014
BCREA 2013 Fourth Quarter Housing Forecast
Vancouver, BC – October 22, 2013.The British Columbia Real Estate Association (BCREA) released its 2013 Fourth Quarter Housing Forecast today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 6 per cent to 71,700 units this year, before increasing a further 6.3 per cent to 76,200 units in 2014. The five-year average is 74,600 unit sales, while the ten-year average is 86,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.
"Consumer demand has bounced back after waning for most of 2012,” said Cameron Muir, BCREA Chief Economist. “With higher interest rates on the horizon, many potential homebuyers are choosing to lock in a mortgage sooner rather than later. However, rather than signaling a return to frenetic home buying activity and accelerating markets, consumer demand is simply transitioning back to its long term average."
The average MLS® residential price forecast for the province has been revised upward from a 3.3 to a 4.3 per cent increase to $537,100 this year, as a result of stronger than expected market conditions in Vancouver. The average MLS® residential price in BC is forecast to increase a further 2.1 per cent to 548,200 in 2014.
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Brand New 1/ 2 duplex home of over 2300 sq feet will impress! This beautiful 5 bedroom home offers an open plan on main with high ceilings, stunning hardwood floors, huge living/dining area & guest bath. Spacious cook's kitchen with quartz counters, wine fridge, gas range, eating bar, separate eating area & adjoining family room. In-floor radiant heat throughout and on-demand energy efficient boiler. 3 big bedrooms upstairs, including master with walk in closet, ensuite & private deck, 2nd bath & laundry. Down offers large rec room, 2 more bedrooms & full bath. 320 s.f. of storage! Outdoor leads to private garden & patio, single garage plus a carport. 2-5-10 warranty & security system. Located in the heart of Mt Pleasant.
note: photos are from 1233 East 13th which is the reverse plan).
Brand New 1/ 2 duplex home of over 2300 sq feet will impress! This beautiful 5 bedroom home offers an open plan on main with high ceilings, stunning hardwood floors, huge living/dining area & guest bath. Spacious cook's kitchen with quartz counters, wine fridge, gas range, eating bar, separate eating area & adjoining family room. In-floor radiant heat throughout and on-demand energy efficient boiler. 3 big bedrooms upstairs, including master with walk in closet, ensuite & private deck, 2nd bath & laundry. Down offers large rec room, 2 more bedrooms & full bath. 320 s.f. of storage! Outdoor leads to private garden & patio, single garage plus a carport. 2-5-10 warranty & security system. Located in the heart of Mt Pleasant.
note: photos are from 1233 East 13th which is the reverse plan).
Brand New 1/ 2 duplex home of over 2300 sq feet will impress! This beautiful 5 bedroom home offers an open plan on main with high ceilings, stunning hardwood floors, huge living/dining area & guest bath. Spacious cook's kitchen with quartz counters, wine fridge, gas range, eating bar, separate eating area & adjoining family room. In-floor radiant heat throughout and on-demand energy efficient boiler. 3 big bedrooms upstairs, including master with walk in closet, ensuite & private deck, 2nd bath & laundry. Down offers large rec room, 2 more bedrooms & full bath. 320 s.f. of storage! Outdoor leads to private garden & patio, single garage plus a carport. 2-5-10 warranty & security system. Located in the heart of Mt Pleasant.
note: photos are from 1233 East 13th which is the reverse plan).
See the Globe & Mail article that describes what's happening across the country and some usefull insights on whats happening here in Vancouver.
Note the comments regarding "stealing volume" due to fear in the market place regarding interest rates rising.
Brand New 1/ 2 duplex home of over 2300 sq feet will impress! This beautiful 5 bedroom home offers an open plan on main with high ceilings, stunning hardwood floors, huge living/dining area & guest bath. Spacious cook's kitchen with quartz counters, wine fridge, gas range, eating bar, separate eating area & adjoining family room. In-floor radiant heat throughout and on-demand energy efficient boiler. 3 big bedrooms upstairs, including master with walk in closet, ensuite & private deck, 2nd bath & laundry. Down offers large rec room, 2 more bedrooms & full bath. 320 s.f. of storage! Outdoor leads to private garden & patio, single garage plus a carport. 2-5-10 warranty & security system. Located in the heart of Mt Pleasant.
note: photos are from 1233 East 13th which is the reverse plan).