For the first time in almost three years, overall housing affordability actually improved—a little—in 2016’s fourth quarter, but this was not the case for the condominium market. According to RBC’s Housing Trends and Affordability report released March 30, it was more difficult to afford a condo in the Vancouver area in Q4 than it was a
Despite regional variations, home sales across the province returned to a historic average level for January, according to the British Columbia Real Estate Association. Sales have slowed in the Vancouver housing market due in part to policy initiatives such as the foreign buyers tax and tighter credit regulations for first time home buyer, but the BCREA reports that sales
VANCOUVER — The B.C. Real Estate Association says the province’s housing market has tumbled from record highs posted in 2016 to return to what it calls historic, long-term averages. The association says 4,487 condos, townhomes and detached homes were sold in B.C. in January, down 23 per cent compared with the same period last year.
