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40% Drop in Vancouver Home Sales Dampens Canadian Market in December
Canadian home sales slowed last month, thanks to a 40% drop in Vancouver, the country’s most overheated market.
Read moreWhere are the Most Accessible Regions in the Country?
We all know that there is no such thing as a national housing market. Each local city has its own housing market, and its own high and lows when it comes to home prices. So which areas are the most accessible for the average buyer? Which region doesn’t have prices that are so sky-high that…
Read moreThe Mysterious Vancouver Housing Bubble: Part 2
It seems to be a weekly occurrence now to hear about some new data attempting to explain the ever-rising home prices in Vancouver. This week, Benjamin Tal, deputy chief economist at CIBC, pointed to some data from Landcor Data Corp. which estimated that only 10% of foreign transactions in Vancouver over the past five years…
Read moreMaybe Prices Aren’t Going To Drop THAT Much
Yesterday I discussed a report that suggested that the Canadian housing market was due for a big price correction. The primary piece of evidence used by the research firm Capital Economics was that the ratio of house prices to disposable income per capita was 25% above their expected levels, according to the company’s calculations. In…
Read moreThe Mysterious Vancouver Housing Bubble
The fact that Vancouver is currently in the midst of a housing bubble is very much un-mysterious. House prices are up 21% over the last year and 188% over the last decade. The average house in Vancouver is 11.1 times the average annual income, double the national average. The mystery lies in what the driving…
Read moreVancouver Home Prices Set to Rise
As if property in Vancouver didn’t cost enough, now realty firm Royal LePage is predicting that real estate prices in the Metro Vancouver area will rise by 7.2 per cent in 2010.
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