It is said that no one has a crystal ball for future market price of houses. If we take into account any changes we can foresee which will affect our housing economy, such as the slowly rising employment level, the rising BC retail trade, housing starts, sales-to-active listings ratio and mortgage rate you will agree to Vancouver’s steady future housing price.
Vancouver’s mortgage rate is holding low and steady for 5-year term. Sales-to-Active Listings is on the rise since the last dip in 2011. It means houses are being sold faster. This will influence the price of the housing market positively, because sellers don’t have to put their house on the market for too long and reduce the price to have their price sold.
The graph provided by the Real Estate Board shows average BC MLS price forecast. The white column predicts the average MLS price in the next half 2013 and 2014 to be on a steady rise.
