October 5, 1990 - North Shore News - &5

REAL ESTATE
Housing sales to rise

THE VANCOUVER Real
Estate Forecast, recently
released by Canuda Mort-
gage and Housing Cor-
poration, projects Lower
Mainland housing sales to
rise moderately in 1991 fol-
lowing a 45 per cent decline
in 1990,

Sales are projected to rise
to 27,000 in 1991 from an
expected level of — 26,200
sales in 1996. The increase
next year is due to projected
lower mortgage rates and
prices which will increase
affordability.

Single detached MLS sales

in 199] from 19,2500 this
year. The supply of single
family homes coming on the
market next year is expected
te decline to 47.3000 from
49.780 in 1990,

Condominium sales ure
forecast fo increase to 7.2.5:
in 1991 from 7,000 in 1990,
Condominium units fisted
on MLS will increase to
2,200 in 199) as a greater
number of newly completed
units are listed.

House prices are expected
to decline moderately over
the shart term befare recov-
ering later in 1999, Prices

through the last hath of this
year and first half of 1991
and then rise moderately in
response O stronger market
conditions,

The averave MES detach-
ed price in’ Greater Van-
couver is) Forecast at
$240,000 in 1991, In the
Fraser Valley. the average
singie detached price is
forecast to be up by 4 per
cent in 1990 to $160,000 and
decline to $150,000 in 1991,

Average MLS con-
dominium prices are
forecust to rise ata low rate
of three to four per cent this

are forecast to rise to 19.700) are

expected to decline | year and next year.

REAL ESTATI
SERVICES

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_ 103 Kapilano 100 Se Park Royal: ;
# West-Vincouver | poe .

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¢ immaculte condition

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SAVE G.ST.
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HAPPINESS
__ — LARGE LOT ~

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: iq Put yourself in this picture
— proud owner of a solid-
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La

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