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Vancouver realtors, developers told ‘the end is nigh’

By Patrick following x   2018 May 15, 6:38pm 537 views   3 comments   watch   sfw   quote     share    


High-profile real estate developers, marketing executives and real estate agents are bracing for a sustained downturn in the housing market after sales in April – usually one of the most active months of the year – plunged by double-digits across Metro Vancouver. ...

In the resale sector, April sales of detached houses plunged 34% through the Real Estate Board of Greater Vancouver, compared with a year earlier, while townhouse and condo sales were down 25% and 24% in the same period.

“I have been seeing more and more price reductions in the detached housing market,” said Tina Mak, a top-producing Vancouver agent with Coldwell Banker Wesburn Realty. Mak, known for her eight-figure land assemblies, said investors should not expect a quick return on investment if they had bought recently.
1   HowdyThere   ignore (0)   2018 May 15, 7:16pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

It is about time. See VREAA.
2   TwoScoopsOfSpaceForce   ignore (4)   2018 May 15, 7:21pm   ↑ like (1)   ↓ dislike (0)   quote   flag        


And it'll be great if NDP gets blamed for it all.
3   steverbeaver   ignore (1)   2018 May 16, 12:56am   ↑ like (0)   ↓ dislike (0)   quote   flag        


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