The British Columbia Real Estate Association forecasts that the average residential price in the province will increase 13 per cent to $571,000 this year, before edging back 2.5 per cent to $557,000 in 2012.
In a news release issued today, the BCREA also predicted a moderate increase in housing this year and next.
“After declining 12 per cent in 2010, residential unit sales through the Multiple Listing Service in B.C. are forecast to rise by five per cent to 78,200 units in 2011 and a further three per cent to 80,700 units in 2011,” the release said.
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