REAL ESTATE NEWS

The forecast for buying and selling real estate in B.C. isn’t what it could have been, but it’s not as bad as the double-digit price drops some analysts have predicted, according to a Richmond presale condo and townhouse agent.
Vince Taylor admits he’s biased, but said the facts are not — supply is low in B.C. and interest rates are historically low, so prices will be relatively stable. ...

In all the conversations about Canada’s high home prices over the last few years, no one predicted that a global pandemic would finally bring them down. While prices haven’t collapsed—the average cost of a home in Canada fell by 1.3 per cent year-over-year in April—some cracks are starting to appear. ...

Canadian real estate kicked off 2020 with a bang, but there are conflicting opinions as to how we’ll finish out the year. Canada’s federal housing agency has warned that average house prices could fall by up to 18 per cent over the next 12 months – a dismal prediction that’s being challenged by RE/MAX based on market activity from coast to coast.
Basic economics has taught us that supply and demand dictates housing prices, and according to what RE/MAX brokers ...

According to April's real estate numbers, sales activity and housing inventory in Greater Vancouver dropped 39 per cent and 34 per cent respectively.
Prices remained flat as buyers balked at the thought of moving during a pandemic while sellers were hesitant to open their homes for viewings, resulting in significant declines in both supply and demand. ...