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Kitsilano real estate prices not expected to rise for balance of 2010

The BC Real Estate Association has announced it expects Vancouver property prices to remain relatively flat throughout the remainder of 2010 as we enter into more “balanced” market conditions.

Balanced conditions are emerging as sales have stabilized off the frenzied pace seen in late 2009; and inventory of unsold homes has come closer to demand which keep pressure off home prices.

Cameron Muir, the BC Real Estate Associations chief economist, anticipates prices to remain fairly flat due to the fact that the improving economy and job growth will be offset by affordability. Muir believes that buyer’s reduced ability to pay for real estate will be “the single biggest constraint in the market over the next few years.”

A balanced real estate market and “flattening” of home prices creates better opportunities for any Vancouver homebuyer’s.

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