Housing Predictions for 2013

(August 14, 2012 )

Might be a bit early, but Canada Mortgage and Housing Corporation (CMHC) is giving us their predictions for next year.

“Factors in 2013 driving the housing market are expected to be a little bit stronger,” Carol Frketich, BC regional economist for CMHC said. “There is expected to be a bit of a pick up in job growth next year, economic growth and demographic growth as well.”

Average prices, which are down about five per cent in Vancouver this year from last year, are expected to climb about 2.6 per cent by 2013, both in Vancouver and across BC.

Vacancy rates are expected to stay low, and rental rates to climb a bit.