Team Dash

RE/MAX Westcoast

604-809-9626

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Jan 2017 Metro Vancouver Realty Report from SnapStats on Vimeo.

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Jan 2017 Greater Vancouver Realty Report from SnapStats on Vimeo.

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Jan 2017 Fraser Valley Realty Report from SnapStats on Vimeo.

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Metro Vancouver Real Estate Report

 

Greater Vancouver Real Estate Report

 

Fraser Valley Real Estate Report

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The concern comes from the B.C. Real Estate Association forecast this week that average home sale prices will fall by as much as 8.7 per cent in the Greater Vancouver and surrounding areas. There is a 13.78 percent drop from the previous forecast only a few months ago. Overall, the new forecast for the first time in 5 years, has been a steady decline for the Greater Vancouver area.

 
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Image Source: BCREA 2017 Forecast
 
 

Hanging onto a home or property in a falling market is ideal. Making it through the tough times, then selling later when the market rebounds is an example of a good strategy. However, it seems that property owners are mortgaged to the max and cannot get around these declines in the housing market. These fundamental practices are the difference between having to foreclose and being in a position to ride the storm. There are other circumstances can also play pivotal roles in having to foreclose or not.

 

It is through pricing markets and economic growth over the past years that these forecasts and predictions set the trends. The market is still up from 2015 but is consistently decreasing and seems touchy.

 

For more, read the full BCREA 2017 Forecast HERE.

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The controversy foreign home buyer tax didn’t stop Canada’s immigration website from going down shortly after the US presidential election last week. Disappointed American residents researched what exactly is a “double-double”, where to buy the best toque, and the possibilities of jumping the proverbial ship.

 

With the sudden interest in America’s northern neighbour, rentseeker.ca conducted their own research. Their blog “New Data by RentSeeker Shows Cost of Housing in Canada and the U.S.compares the average home price across Canada and the United States of America, and the salary you would need to purchase in said area.


Graphics by rentseeker.ca

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Metro Vancouver Real Estate Report

 

Greater Vancouver Real Estate Report

 

Fraser Valley Real Estate Report

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Metro Vancouver Real Estate Report

 

Greater Vancouver Real Estate Report

 

Fraser Valley Real Estate Report

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The most expensive city in Canada is now the world's riskiest city in housing if a sudden downward correction were to happen.

 

Housing prices in Vancouver are always on the rise and even during the economic crisis of 2008 Vancouver still saw growth in Real Estate values. As wages and commodity prices weakened the market continued to rise which has caused a "significant overaluation" in the market.

 

Over the past couple of years the Vancouver market has seen increased upward pressure due to strong offshore investors and foreign property owners. The risk comes from the fact that Vancouver Real Estate values are out of sync with current economic conditions in Canada and around the world.

 

Other cities also sited and being risky are: Vancouver, London, Stockholm, Sydney, Munich and Hong Kong.

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