“Market conditions have shifted from balanced conditions
at the start of the year to a buyers’ market this summer,” said
Muir, BCREA Chief Economist. In June, there was 9.3 months of
the market given current sales activity, up from 5.6 months in
2010. “Tighter credit conditions for homes with secondary suites
equity home buyers have moderated consumer demand,” added Muir.
For the complete news release, including detailed
statistics, follow this link: www.bcrea.bc.ca/news_room/2010-06.pdf