The root issue that drives housing prices almost always is supply and demand. Several factors influence supply and demand such as mortgage interest rates, inflation, employment, investment, construction, immigration, government assistance programs, and the health of local and world economies. Check out the supply and demand trend for West Vancouver‘s apartments:
West Vancouver and North Vancouver market activity for detached homes has shifted below our long term averages. Inflationary pressure and rising interest rates are likely key drivers of these trends. This shift in market conditions may cause prices to continually edge down as they have over the past while. At this time, many…
Our board just released its monthly stats saying “Metro Vancouver’s housing market is experiencing a quieter summer season marked by reduced sale and listing activity”. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totaled 1,870 in August 2022, a 40.7 per cent decrease from the 3,152 sales…
