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20% Price Rise does not bode well for dreams of affordable housing

October Average sale price up almost 20% October Sales almost 20% higher than same time last year October Dollar volume up almost 50% LACK OF SUPPLY: “A lack of supply in the resale market continues to put upward pressure on home prices in most BC regions.” BCREA Economist Cameron Muir Vancouver, BC – November 14, 2017. The British […]

“Perfect Storm” of market demand momentum meets nightmare lack of supply

Housing affordability is fundamentally linked to the relationship between the housing stock and market demand.       Strong economic growth has created rising labor demand and consumer confidence side effects, while net migration and a wave of millennials entering their household-forming years have rounded out a “perfect storm” of demand-side momentum. In turn, the supply of […]