BCREA's Chief Economist, Cameron Muir, is forecasting an increase in sales which will be equal to the long term average, as well as an increase in prices. He has revised his prediction to 4.3% for 2014.
But Muir doesn't expect to see the frantic market of a few years ago, instead buyers will be less frantic and will be moving back into the real estate market in order to take advantage of the lower interest rates.
Take a look at BCREA's graph.
There are certainly more buyers in the market than there was a year ago.
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