Headline News and Feeds
Home Buyers in the Driver’s Seat
Tue, 17 Aug 2010 01:07 PM
Home Buyers in the Driver’s Seat Vancouver, BC – August 12, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 42 per cent to 5,784 units in July compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 19 per cent in July from June 2010. The average MLS® residential price climbed 6 per cent to $491,832 in July compared to the same month last year. “A relatively large number of homes for sale have created the most favourable supply conditions for home buyers in more than a year,” said Cameron Muir, BCREA Chief Economist. MLS® active residential listings were 21 per cent higher in July than at the start of the year on a seasonally adjusted basis. However, with newly listed MLS® residential units now declining, tighter market conditions may emerge this fall. Year-to-date, BC residential sales dollar volume increased 16 per cent to $24.2 billion, compared to the same period last year. Residential unit sales rose 4 per cent to 48,127 year-to-date, while the average MLS® residential price climbed 13 per cent to $504,281 over the same period.
BCREA Housing Forecast Update
Tue, 17 Aug 2010 01:01 PM
BC Home Sales to Rise in 2011 BCREA Housing Forecast Update - Third Quarter 2010 Vancouver, BC – July 30, 2010. The British Columbia Real Estate Association (BCREA) released its Housing Forecast Update for the third quarter of 2010 today. BC Multiple Listing Service® (MLS®) residential sales are forecast to decline 7 per cent from 85,028 units in 2009 to 79,500 units this year, before increasing 5 per cent to 83,400 units in 2011. President Moss Moloney Past President John Tillie | | Vice President Rick Valouche Chief Executive Officer Robert Laing | | bcrea@bcrea.bc.ca www.bcrea.bc.ca | | 604.683.7702 604.683.8601 1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 (tel) (fax) “The volatility in consumer demand characteristic of the past 24 months is expected to give way to more gradual improvement through 2011,” said Cameron Muir, BCREA Chief Economist. “Housing demand has fallen back to earth from its break-neck pace at the end of 2009 and is expected to more closely match overall economic performance over the next 18 months.” “A larger inventory of homes for sale has created the most favourable conditions for home buyers in more than a year,” added Muir. “However, the buyers’ market is expected to be short-lived as total active listings peaked in May and are beginning to wane, with more balanced conditions set to emerge in the fall.” BC MLS® Residential Sales020,00040,00060,00080,000100,000120,0002001200220032004200520062007200820092010f2011fUnitsSource: BCREA The average MLS® residential price is forecast to climb 6 per cent to $492,800 this year and remain relatively unchanged in 2011, albeit declining by 1 per cent to $489,500. – 30 – The full BCREA Housing Forecast Update is available at: www.bcrea.bc.ca/economics/HousingForecast.pdf.
Tue, 17 Aug 2010 01:07 PM
Home Buyers in the Driver’s Seat Vancouver, BC – August 12, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 42 per cent to 5,784 units in July compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 19 per cent in July from June 2010. The average MLS® residential price climbed 6 per cent to $491,832 in July compared to the same month last year. “A relatively large number of homes for sale have created the most favourable supply conditions for home buyers in more than a year,” said Cameron Muir, BCREA Chief Economist. MLS® active residential listings were 21 per cent higher in July than at the start of the year on a seasonally adjusted basis. However, with newly listed MLS® residential units now declining, tighter market conditions may emerge this fall. Year-to-date, BC residential sales dollar volume increased 16 per cent to $24.2 billion, compared to the same period last year. Residential unit sales rose 4 per cent to 48,127 year-to-date, while the average MLS® residential price climbed 13 per cent to $504,281 over the same period.
BCREA Housing Forecast Update
Tue, 17 Aug 2010 01:01 PM
BC Home Sales to Rise in 2011 BCREA Housing Forecast Update - Third Quarter 2010 Vancouver, BC – July 30, 2010. The British Columbia Real Estate Association (BCREA) released its Housing Forecast Update for the third quarter of 2010 today. BC Multiple Listing Service® (MLS®) residential sales are forecast to decline 7 per cent from 85,028 units in 2009 to 79,500 units this year, before increasing 5 per cent to 83,400 units in 2011. President Moss Moloney Past President John Tillie | | Vice President Rick Valouche Chief Executive Officer Robert Laing | | bcrea@bcrea.bc.ca www.bcrea.bc.ca | | 604.683.7702 604.683.8601 1420 – 701 Georgia Street W, PO Box 10123, Pacific Centre, Vancouver, BC V7Y 1C6 (tel) (fax) “The volatility in consumer demand characteristic of the past 24 months is expected to give way to more gradual improvement through 2011,” said Cameron Muir, BCREA Chief Economist. “Housing demand has fallen back to earth from its break-neck pace at the end of 2009 and is expected to more closely match overall economic performance over the next 18 months.” “A larger inventory of homes for sale has created the most favourable conditions for home buyers in more than a year,” added Muir. “However, the buyers’ market is expected to be short-lived as total active listings peaked in May and are beginning to wane, with more balanced conditions set to emerge in the fall.” BC MLS® Residential Sales020,00040,00060,00080,000100,000120,0002001200220032004200520062007200820092010f2011fUnitsSource: BCREA The average MLS® residential price is forecast to climb 6 per cent to $492,800 this year and remain relatively unchanged in 2011, albeit declining by 1 per cent to $489,500. – 30 – The full BCREA Housing Forecast Update is available at: www.bcrea.bc.ca/economics/HousingForecast.pdf.
