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BC to experience real estate growth in housing retail

CREA predicts that B.C. will lead the other provinces with an 8.3 per cent increase over last year

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A graphic of a house with a sold sign on it.

The real estate market is expected to grow in 2014. — Kimiko 16/iStock/thinkstock

The Canadian Real Estate Association (CREA)  expects B.C. to see the largest growth, compared to other provinces, in housing retail activity in 2014

While the rest of the country is expected to have a slight growth of 1.3 per cent, CREA predicts that B.C. will lead the other provinces with an 8.3 per cent increase over last year. This may sound somewhat more promising than the numbers indicate, as 2013 was one of B.C’s poorest years on recent record. The expected increase will simply put the province closer to average sales.

“I expect fixed mortgage rates will edge marginally higher in the second half of 2014, as evidence confirms an anticipated pick-up in economic growth,” said CREA chief economist Gregory Klump.

What do you think can we expect in the Kootenays? Will the rate of growth be as high as what is predicted for all of B.C.?

Kimberly Shellborn

Kim is the editorial coordinator at Koocanusa Publications. She recently returned to the Kootenays after 15 years in Spain, where she taught English and got to know the food and wine regions of the country. When she’s not writing or taking photographs, she can be found showing her husband and two children all the backcountry trails that she longed for while in Europe. View all of Kimberly Shellborn’s articles

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