More homes are selling
“We’re starting to see home prices moderate in all segments of the market, particularly Greater Vancouver, including condos and townhomes”
Housing price index continues to slide
Sales in Vancouver fell 31.6 percent in 2018, while sales in the Fraser Valley region which includes South Surrey and White Rock fell 30.8 percent. Part of this is a government-engineered slowdown aimed at cooling the Lower Mainland market and prevent a debt bubble from popping. The B.C. government brought in taxes on foreign buyers of local property, and the federal bank regulators made financing more difficult, The goal was a soft landing and that seems to have happened so far. However housing markets are down across the world and the fear is that global economic forces could change a soft landing into a hard crash.
Townhome prices are one of the few bright spots
Townhome Prices are leading the pack