MPC Intelligence has recorded a distinct upturn in sales activity throughout the Lower Mainland with sales of new home product reaching nearly 2900 homes. Further to the return of housing sales, we have also observed that the return of product to the market has subsided, translating to a more stable environment for completions moving through the summer. In fact, only 346 homes were returned to the market during the second quarter, many of which were subsequently absorbed by end users.

MPC Intelligence will be releasing our Mid Year Market Review and Completion Study to clients by July 28th through hard copy circulation. Within the report, we discuss the impact of earlier pricing corrections, the origin of today's buyer, the transition back to a dependance on lower density product and the areas of greatest opportunity and challenge moving forward.

Watch over the coming days as we release information on sales statistics by region and product type, updated pipeline reviews and provide our assesment on the future of the Lower Mainland new development market.

We remain, as always, here to help and remind you to Think Before You Act!

Andrew McMillian

Senior Development Analyst - MPC Intelligence Inc