Lower Mainland Home Sales Are Going To Rise!

Lower Mainlands Real Estate housing market is on the rebound with resales expected to set a new annual record this year and homebuilding off to a strong start, according to two reports issued Monday.

The Canadian Real Estate Association is forecasting that national home sales activity will reach 527,300 units this year, up 13.3 per cent from 2009. This would be a new annual record, up 1.2 per cent above the previous peak in 2007, CREA said Monday.

Low interest rates and home buyers wishing to avoid the harmonized sales tax before it comes into effect in British Columbia will help fuel Lower Mainland Real Estate resales in the first half of this year, the association said in a news release.

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