Forecast: Vancouver home prices to fall 13% in 2009

BCREA forecast – The global financial crisis and resulting world-wide recession will continue to take their toll on BC housing markets this year. Multiple Listing Service® (MLS®) residential unit sales in the province are forecast to decline 9% to 62,650 units this year. With BC and Canada now in the midst of a recession, concern for job security and declining net worth are major factors keeping potential homebuyers on the sidelines. However,... [Read More...]