Sellers’ market to continue in 2008

The Canada Mortgage and Housing Corporation expects the average single-family house price to reach $900,000 in Greater Vancouver in 2008 as an influx of new residents (expected to be around the 35,000 mark) and job creation (approximately 33,000) keep the city in a seller’s market. The CMHC further forecast that the region’s average price across all property types would rise by 9% from 2007 and would generate the demand for 18,500 new housing starts.

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