Tuesday, November 8, 2011


THE BCREA comes out with a bearish forecast on home prices..

Vancouver to drop 3.5%.

BC to drop 2.5%

....in 2012.

All from the pen and mouth of our very own Cameron Muir.

and here is what they say about Victoria

' Prices in Victoria will remain below the $504,561 average in 2010, however, slipping to $499,000 this year, then up to $501,000 in 2012.

“The Victoria market is being impacted by slower growth in employment, reduced interprovincial migration flows and continuing weakness in US tourism,” said the report.'