Local economists have stated that the real estate market in 2014 should become relatively stable, as it calms from the rebound in sales of 2013.
In Metro Vancouver, the communities covered by the Real Estate Board of Greater Vancouver saw a 14-per-cent gain in 2013 showing 28,524 sales, compared to the 25,032 sales of 2012.
Central 1 Credit Union predicts that for 2014, property sales in Metro Vancouver are to increase by six per cent, mortgage rates will increase slightly but remain low, and employment growth will continue as the economy improves in the United States.
Overall, a quiet 2013 has resulted in a net balanced market between buyers and sellers for the year – continuing on into 2014.
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