James Alexander Michie: The Vancouver real estate market in a rough patch | MSN
Author: James Alexander Michie
The real estate of Vancouver seems not the best investment and is that the real estate market in Vancouver is in a very bad patch which not long ago would have been hard to believe but it is a bad time for it.
The real estate board of the region gave a report on Wednesday regarding sales in the same region and they have had a significant fall of 36.6% during the month of August, which is a big difference if we make a comparison with sales a year ago, the figures given have made it clear that Vancouver real estate is definitely not at its best.
Meanwhile the president of the Board of Real Estate of Greater, Vancouver, expressed through a statement “Today’s buyers have more listings to choose from and face less competition than we have seen in our market in recent years” besides said “With fewer active buyers in the market, the reference prices in the three housing categories have declined for two consecutive months throughout the region.”
It is important to note that costs have shown a fall in all housing categories, despite the fact that according to the real estate board there are moderate price declines in them.
However, at the beginning of the year, the sales of the houses remained relatively in a good state but since May began to increase a dramatic drop in the sales of the same, which has become a somewhat worrying situation for the market. Vancouver real estate.
On the other hand, there are real estate experts in British Columbia who affirm that there are segments of the market where the situation is considerably worse, thus becoming something more complex and serious than what is reflected in the figures given by the Real Estate Board.
Take a read: https://www.msn.com/en-ca/money/homeandproperty/vancouver-real-estate-is-starting-to-look-like-a-disaster/ar-BBMVdlC?li=AAggNb9&ocid=iehp
Source: Daniel Tencer | HuffPost Canada | MSN