Analysis: ‘Buyers don’t know whether to purchase yet. And sellers don’t know if they should sell for less’

From all corners come the forecasts of lower housing prices in Canada. Everyone is nervous.

The predictions portend gloom for many who bought homes in recent years, particularly over-leveraged investors. But drastically reduced prices also signal a possible opening for middle-income earners so far barricaded out of ownership.

The Bank of Canada is expected to again hike the prime rate in September, to about 3.5 per cent. This will further deflate the housing bubble ...

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The British Columbia Real Estate Association (BCREA) reports that a total of 5,572 residential unit sales were recorded by the Multiple Listing Service® (MLS® ) in July 2022, a decrease of 42.4 per cent from July 2021. The average MLS® residential price in BC was $923,449, a 3.6 per cent increase from $891,376 recorded in July 2021. Total sales dollar volume was $5.1 billion, a 40.3 per cent decline from the same time last year.

“High mortgage rates continued to lower sales activity in July,” said BCREA Chief Economist Brendon Ogmundson. “Many regions around the province...

Spacious 1 Bed Home

Excellent Condition

Priced at $439,800

Click here for more...

Enjoy the peace & tranquility this area has to offer. Welcome to UniverCity at SFU, Vancouver premier lifestyle neighborhood. This 1 bed, 1 bath 624sqft home, located in Novo II; a concrete, rental and pet friendly building will not disappoint. Perfect for investors, first time buyers, students & everyone else in between. Features: an abundance of natural light, an open layout, granite counters, SS appliances, laminate floors, newer front load washer & dryer & covered balcony. The large bedroom has...

Metro Vancouver’s* housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,887 in July 2022, a 43.3 per cent decrease from the 3,326 sales recorded in July 2021, and a 22.8 per cent decrease from the 2,444 homes sold in June 2022.

Last month’s sales were 35.2 per cent below the 10-year July sales average.

“Home buyers are exercising more caution in today’s market in response to rising interest...