Real Estate Sales – Circle of Supply and DemandPublished: March 15, 2017
So – we’re feeling the effects! The question is whether or not BCREA’s February report of decreased buyer demand is a reflection of the slowing real estate sales in the Vancouver area?
The foreign buyers that drove those Vancouver sales seem to have moved on to points east – mainly the GTA! We want all British Columbians to have access to housing, but a slow down in overall sales has consequences. It means the government won’t be collecting all the property transfer taxes, nor the 15% foreign investor fee either! It’s a vicious circle, but don’t take just our word for it….
Average MLS Prices, North Okanagan
Average MLS Prices, Shuswap
MLS Prices, Source: Okanagan Mainline Real Estate Board (OMREB)