The real estate market in British Columbia is squarely in the buyer's court with inventory up and the volume of sales dropping by 36 per cent in June compared to the same period last year. These statistics, published by the Canadian Real Estate Association, were quoted in the Vancouver Sun.
"Buyers here can expect to see prices flatten or even decline slightly", Cameron Muir, chief economist for the B.C. Real Estate Association told the daily, adding that they don't expect a substantial price correction.
Numbers show that B.V. has largely dodged the price rollback, the Vancouver Sun reports adding that demand is gradually coming off its record levels and inventory levels are beginning to swell.
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