BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the October 2013 statistics.
"The fall housing market is shaping up to be the most active in four years," said Cameron Muir, BCREA Chief Economist. "Persistently low mortgage interest rates and an element of pent-up demand have driven home sales higher in the province's large Lower Mainland and Vancouver Island markets."
"While the rebound in consumer demand has been significant, home sales are trending near the long-term average and any continued acceleration will depend on stronger economic and employment growth," added Muir.
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Till next time,