Residential Home Sales: Fourth Quarter Housing Forecast

Fourth Quarter Housing Forecast: The association's Fourth Quarter Housing Forecast shows a positive outlook for 2014 after home sales declined through 2012 before recovering this year, according to Huffington Post. Ramped-up consumer demand has come at the same time as listings have fallen nine per cent this year, potentially pushing the average home price up 4.3 per cent to $537,100 this year and another 2.1 per cent to $548,200 in 2014 and B.C.'s residential home sales are predicted to grow 6.3 per cent next year as the housing market moves into balanced territory, favouring neither sellers nor buyers, says the B.C. Real Estate Association. Sales are expected to jump to 76,200 units next year after rising just over six per cent in 2013 as consumer demand picked up, bringing home sales to long-term average levels. (www.immigrantscanada.com). As reported in the news.