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December 2017

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Sales will be down in 2018, but not prices: B.C. Real Estate Association

The British Columbia Real Estate Association is out with its fourth-quarter housing forecast, and it’s predicting residential sales will decline by 10 per cent in 2018, after an expected drop of 8.8 per cent in 2017.

This follows a record 2016 that saw the 10-year average number of sales beaten by 28,000 homes.

Association Chief Economist Cameron Muir says while demand is expected to be strong in the coming year, there are several factors he expects will temper that, including a rising interest rate environment and more stringent mortgage stress tests.

 
 

Monthly Local Market Update

How are home sales performing in your area? Take a look at our easy to interpret infographics that show market trends for condos, townhomes and single family homes by city.

Thinking about moving? This can be a great snapshot of activity in other markets around the province to weigh your purchasing power.

 

Abbotsford

Bowen Island

Burnaby East

Burnaby North

Burnaby South

Cloverdale

Coquitlam

Kelowna

Ladner

Langley

Maple Ridge

Mission

Nanaimo

New Westminster

North Delta

North Surrey

North Vancouver

Parksville

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

South Surrey/
White Rock

Squamish

Sunshine Coast

Surrey - Central

Tsawwassen

Vancouver - East

Vancouver - West

Victoria

Vernon

West Vancouver

Whistler

This season, celebrate with less waste.

If you could do just one thing differently to create memories and reduce waste this holiday season, what would it be? We’ve collected creative gift ideas, tips for gift wrapping and ideas for celebrating the season.

This winter, create memories, not garbage.

 

B.C. Real Estate News

LOWER MAINLAND

Surrey named B.C.’s top city for real estate investment (Real Estate Investment Network)

Vancouver warns owners of empty homes to fill out new declaration forms, or face stiff fines(Financial Post)

Metro Vancouver rental vacancy rate remains under 1%: CMHC (Business in Vancouver)

VICTORIA & VANCOUVER ISLAND

Average home price in Victoria surpasses $900,000 for first time (Chek)

Report suggests Greater Victoria headed for another real estate boom (Peninsula News Review)

OKANAGAN

Real estate boom in Kelowna is just beginning (The Daily Courier)

Record year for real estate in South Okanagan (Castanet)

 
 

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©2017 Macdonald Realty Ltd. 2105 W 38th Ave, Vancouver, B.C. V6M 1R8 | macrealty.com