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Fewer listings, strong demand helps Vancouver area real estate rally
– canadianbusiness.com
Home sales in Metro Vancouver are bouncing back after a dismal February, but the Real Estate Board of Greater Vancouver says transactions are still almost 31 per cent below the March 2016 record.
The board says a shortage of property listings and strong demand, especially for condos and townhomes, propelled the market in March.
Board president Jill Oudil says sellers still seem reluctant to put their homes on the market, creating stiff competition for homebuyers.
The numbers of new listings haven’t been this low since March 2009.
Oudil says the competition also means home prices are likely to continue to increase until we see more housing supply coming on the market.
The composite benchmark price in March for all residential properties in Metro Vancouver is over $919,000, a 1.4 per cent increase compared with February.
The post Fewer listings, strong demand helps Vancouver area real estate rally appeared first on Canadian Business – Your Source For Business News.
The board says a shortage of property listings and strong demand, especially for condos and townhomes, propelled the market in March.
Board president Jill Oudil says sellers still seem reluctant to put their homes on the market, creating stiff competition for homebuyers.
The numbers of new listings haven’t been this low since March 2009.
Oudil says the competition also means home prices are likely to continue to increase until we see more housing supply coming on the market.
The composite benchmark price in March for all residential properties in Metro Vancouver is over $919,000, a 1.4 per cent increase compared with February.
The post Fewer listings, strong demand helps Vancouver area real estate rally appeared first on Canadian Business – Your Source For Business News.
Bill O’Reilly’s top-rated Fox News show may be starting to feel a financial sting after allegations that he sexually harassed several women.
