The British Columbia Real Estate Association is predicting a decline in home sales of 10% this year.In its 2017 Second Quarter Housing Forecast, it also predicts a 1.1% decrease in the average residential price to $683,500, but it says that will be caused by a larger proportion of home sales outside the Metro Vancouver region.
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Association Chief Economist Cameron Muir says strong employment growth, consumer confidence, and an influx of inter-provincial migrants will continue to be important drivers of the housing market this year.He says with supply at a 20-year low, it remains a sellers’ market in most regions of B.C. and among most home types. @bcrea reports that BC home sales to exceed 100,000 units for third consecutive year – https://t.co/qsJpHVN3rm pic.twitter.com/7k586WnPNO— BC Real Estate Assoc (@bcrea) June 19, 2017
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