The聽BC Real Estate Association鈥檚聽(BCREA) fourth-quarter housing forecast said housing sales will slow in 2018, but prices will rise.
聽鈥淚n 2018, there are going to be some headwinds in the housing market, primarily some higher interest rates, also tighter mortgage qualifications applying a stress test to conventional mortgages,鈥� said BCREA chief economist聽Cameron Muir.
鈥淲e鈥檙e faced with a much higher price level that鈥檚 going to exacerbate the impact of rising interest rates and tighter mortgage qualifications,鈥� said Muir.
Housing sales were expected to reach 102,350 units in 2017, but drop 10 per cent this year聽 to 91,750 units.
The average price of a B.C. home聽 is slated to increase 4.6 per cent to $745,300 in 2018.
麻豆传媒映画condo prices may spike this year due to a shortgage of new units.聽 Starts of new strata homes in the city were down 58 per cent as of November 2017 compared to a year earlier.聽聽
