
Cameron Muir, Senior Economist at the BC Real Estate Association, expects consumer demand for housing to continue to improve, citing economic expansion and population growth in BC, as well as overall improving economic conditions. Recently, our unemployment rate in BC dipped to 6.9%, the lowest it's been since January 2009.
Because of our provincial conditions, Muir predicts MLS sales in the Fraser Valley to increase by a healthy 6% between 2010 and 2011. However, he expects average prices to dip by about a half percent - effectively on par with what they were last year.
All in all, a nice, balanced market is predicted for 2011.
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