Friday Free-for-all! April 19th 2019

A very Good Friday to you all!

It’s the end of another work week and that means it’s time for another Friday Free-for-all, our open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!

One half year into a decline

It’s not just Vancouver, sales are falling across the nation marking the first March decline since the recession.

Prices fell in seven of the 11 markets in the index, led by a 1.5 per cent drop in the capital region of Ottawa-Gatineau. In Victoria, British Columbia’s capital city, prices were down 1.1 per cent, with Vancouver prices down 0.5 per cent.

Canada’s once-hot housing market has softened since the start of last year, as tighter mortgage rules and five interest rate hikes from the Bank of Canada since July 2017 have curbed buyer spending power.

Read the full article here.

Greater Vancouver has best month for home sales since 1986

Best if you’re hoping for price drops on real estate that is.

We dont have official numbers for March yet, but realtor Steve Saretsky says that we just saw the lowest March sales numbers since 1986:

Saretsky said prices are in fact taking a dip, however the slide isn’t evenly distributed.

“You know you can probably get a 40 per cent discount at a house in West Vancouver, but you might only get a 15 per cent discount on a house in East Vancouver.”

He added that condo sales also saw an 18-year low last month.

Of course he did say this on April 1st. Read the full article here.