Dianne Moscrip, Associate Broker (Agent 9.15) RE/Max Advantage Realty

Articles of interest... (recent newspaper articles)

More homes for sale (BC Real Estate Associates, article dated May 14, 2008)

Housing dreams clash with reality (Vancouver Province article dated May 13, 2008)

Moderate rise in Vancouver new-home prices (Vancouver Province article dated May 13, 2008)

15 Real Estate Myths and Realities (Vancouver Sun article dated April 26, 2008) and the explanation of who was consulted in the article

Update in light of current developments in the US (CMHC forecast Jan 2008)

Strong Vancouver market expected in 2008 (Vancouver Sun article dated December 29, 2007)

Strong demand drives Lower Mainland housing markets, 4th quarter 2007

New West million dollar view (article dated August 2007)

Home sales continue at torrid pace (article dated September 2007)

Home sales continue at torrid pace

By Cameron Muir, BC Real Estate Association Chief Economist,
September 18, 2007

Vancouver, BC – September 18, 2007.

British Columbia Real Estate Association (BCREA) reports residential sales volume on the Multiple Listing Service® (MLS®) in BC climbed 25.9 per cent to $4.33 billion in August, compared to the same month last year. Residential unit sales increased 12.6 per cent to 9,833 units during the same period. The average MLS® residential price hit $439,931, up 11.8 per cent from August 2006.

BC home sales rebounded over the summer months, climbing 14 per cent June through August,
compared to the same period last year. Year to date, BC home sales are up 4.7 per cent to 74,939
units.

“Despite eroding affordability, home sales are on a near record pace,” said Cameron Muir, BCREA
Chief Economist. “Preferred retirement locations, such as Vancouver Island, the Okanagan and
Kootenays, have experienced the largest increases in home sales this year.”

Muir noted that, while home sales are up, the average home price across the province is climbing
at a year-over-year rate of 12 per cent, down from a high of 21 per cent in June 2006. “Barring any
unforeseen shock in the market, such as rapidly rising interest rates or a meltdown of the BC
economy, less upward pressure on home prices is expected over the next 24 months,” added Muir.

For more information, please contact:
Cameron Muir
Chief Economist
Direct: 604.742.2780
Mobile: 778.229.1884
Email: cmuir@bcrea.bc.ca

Call Dianne today! 604.518-0573 or toll-free at 1-866-521-5767 for more information.