This Just in! Listening to a talk given by Cameron Muir Chief Economist for British Columbia Real Estate Association (BCREA) on June 10, 2010 he stated that he thought the Vancouver Real Estate market would tend to trend with the growing economy (gradually growing).  He forecasted that the days of double digit gains and multiple offers will not be around again for 2-5 years.  His predictions on prices were that they will likely soften for the rest of the year and see slow but solid growth in 2011.  When asked if we will see a major correction like we did in 2008 he thought that this was unlikely as the economy is in a much different and more positive place than it was in 2008.  So do not expect to see the market drop away like it did before although there could be some deals out there with desperate sellers that missed the busy Spring Market.

Greg Andruff - Real Estate Specialist

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