The summary? Prices continue to slide and sales have seen a huge drop of 42.5%.
A big thanks to SSC who continues to reliably share key news stories!
As you may be aware it is always a good time to buy or sell real estate according to most real estate professionals who earn their living by buying and selling real estate.
Well right now it’s a great time to buy or sell real estate because the runaway market is taking a breather.
It’s a “soft landing,” according to Royal LePage CEO Phil Soper, who says their latest house price survey shows the effects of government measures to cool things down.
What were previously called the “dangerously overheated” conditions in Metro Vancouver housing have cooled significantly, but prices have remained resilient.
He says it’s the soft landing policy-makers had hoped for, rather than a crash.
“But it won’t stay this way for long. Household formation in Canada… is going to grow rapidly,” he predicts.
Read the full article here.
Do you remember 10 years and 6 days ago when David Gibbons from Zillow commented on this site that they intended to expand internationally and Canada was definately on the shortlist?
Well Zillow is coming to Canada, sort of.
Looks like they’ll just be showing the same listings as the MLS – dare we hope for an independent source of long term statistics like price history?