Southseacompany points out this article claiming speculators are leaving the local market and selling homes purchased in the last two years for less than the purchase price:
Dozens of homes in Metro Vancouver bought in the last two years are currently listed to be sold for a loss as speculators appear to exit Canada’s hottest real estate market.
An industry insider sent ThinkPol sales data for single family houses in the Lower Mainland showing roughly 40 properties that are currently listed for prices lower than what the sellers originally paid for them.
As the property purchases were made within the last two years, ThinkPol was able to validate this data using information published by BC Assessment.
price read the full article here.