Tuesday, 18 November 2014

Housing Demand Ratchets Higher in British Columbia

For immediate release

Housing Demand Ratchets Higher in British Columbia
BCREA 2014 Fourth Quarter Housing Forecast

Vancouver, BC – The British Columbia Real Estate Association (BCREA) released its 2014 Fourth Quarter Housing Forecast today.

"Consumer demand has ratcheted up this year and is expected to remain at a more elevated level through 2015,” said Cameron Muir, BCREA Chief Economist. “While historically low mortgage rates support demand, the housing market is also being underpinned by a more robust economy and associated job growth, strong net migration and consumer confidence."

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 15.1 per cent to 83,900 units this year. Stronger economic conditions are expected to be somewhat offset by higher interest rates later next year, and keep home sales from advancing much further. As a result, MLS® residential sales are forecast to edge up a further 1.2 per cent to 84,900 units in 2015. The 15-year average is 80,400 unit sales and a record 106,300 MLS® residential sales were recorded in 2005.  

The average MLS® residential price for the province is forecast to increase 6 per cent to a record $569,800 this year and a further 1.2 per cent to $574,300 in 2015. “New construction activity is generally keeping pace with population and household growth, keeping supply in line with consumer demand,” added Muir. BC housing starts are forecast to increase 4.6 per cent to 28,300 units this year and a further 1.4 per cent to 28,700 units in 2015.

To view the full BCREA Housing Forecast, click here, and visit www.TheRightAgents.com to find the right agent to help you navigate today's real estate market.

Monday, 10 November 2014

Attention Investors: Canada's Top 100 Neighbourhoods!

The highly anticipated Top 100 Neighbourhoods edition of Canadian Real Estate Wealth is on newsstands now.  The issue, which is top-of-mind for real estate investors in Canada, details the country's top neighbourhoods according to exclusive data compiled by The Teranet - National Bank House Price Index (click here to view a summary of the country's Top 100 Neighbourhoods).

According to readers, real estate agents are the number one service (79%) that investors use when investing in new properties.  Thinking of investing in the Thompson Okanagan or Shuswap?  Find a real estate agent near you using the RE/MAX office locator.


Thursday, 6 November 2014

21 Cool Bedrooms for Clean and Simple Design Inspiration

Home-Designing.com reports:  "Sometimes the most luxurious rooms are the simplest. Whether you want to cure insomnia or just rest a little easier, sometimes the best solution is to simplify. These bedrooms would allow you to do just that with everything perfectly in its place. Clean linens and clean lines are the perfect recipe for a great night's sleep."

Check out these simple design ideas, before you think about selling your home, or if you are in the market and looking for real estate to buy!