The Canada Mortgage and Housing Corporation released their forecast for the Vancouver housing market in 2008. They view the next year to be a positive one as far as resales and price appreciation. Interest rates are predicted to stay relatively level, and prices are predicted to continue to raise at about an average of 9.1%.
According to the CMHC press release of November 2, 2007:
“In Vancouver, housing demand will be supported through 2008 by ongoing job growth and a steady flow of people moving to the region” said Robyn Adamache, CMHC’s Vancouver Senior Market Analyst. Solid home price gains will continue to attract investors and live-in homeowners alike. These factors, combined with Vancouver’s growing international reputation as a clean, liveable city, will keep demand for new and resale housing robust. Both new home starts and existing home sales will stay near record highs, but edge down slightly in the year ahead. Look for new and resale home prices in Metro Vancouver communities to increase, but at a slower pace than in recent years.
Sebastian Albrecht, Vancouver Realtor with Royal LePage
|
|
|
|
|
|
Related posts:
