Housing Market Favours Buyers BCREA

“Market conditions have shifted from balanced conditions at the start of the year to a buyers’ market this summer,” said Cameron Muir, BCREA Chief Economist. In June, there was 9.3 months of supply on the market given current sales activity, up from 5.6 months in January 2010. “Tighter credit conditions for homes with secondary suites and low 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.