February 2018 Housing Market Update in Greater Vancouver
Overall, the market in Februray was more active compared to January, especially for apartments and townhouses. As you might be aware, BC Government has changed some of the rules regarding real estate in order to make it fairer. See the link below for the PDF format of the changes:
We will see if these changes will force some non-resident investors who own multiple properties, to start selling some of them. This might increase the number of listings in the near future. These changes might create fear among some of the speculators and eliminate them as buyers. It usually takes 6 months or more before we see a change of trend.
Here are February statistics, please click on the links below for Metro Vancouver and Greater Vancouver areas:
http://www.snap-stats.com/wp-content/uploads/2018/03/www.snap-stats.com-mvr-2018-feb.pnghttp://www.snap-stats.com/wp-content/uploads/2018/03/www.snap-stats.com-gvr-2018-feb.pngHere is an informative video about the market:https://www.youtube.com/watch?v=CQheY9sdG00&feature=youtu.be
f you have specific questions about your own investment and when it is the best time to sell or buy, we will be happy to answer all your questions.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.