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How is the Housing Market Changing?

August 28, 2017 by Editor

How is the housing market changing … the long-term trend is always upwards.

What changes should we expect in the coming years?

How is the housing market changing

Single family homes will attract an increasing premium. The region’s supply of houses is pretty much max’ed out, but our population continues to grow so demand will continue, partially driven by wealthy offshore buyers who value our stability and quality of life. Fewer houses will change hands, but prices will remain high.

Condo apartments and townhomes will be in demand as the only practical alternative for many families. But prices won’t rise quite as steeply as for houses because many more multi-family developments will be produced and sold; supply and demand will be in better balance than for houses.

 What factors will affect the housing market?

  • Potential interest rate changes from our recent run of extremely low mortgage costs.
  • Demographics – baby boomers aging out of their homes while more singles stay in small apartments.
  • Pricing realities – the increasing inability of middle class working families to purchase a suitable home.
  • Government intervention – we should expect more intervention, but with less predictable results; complex markets like this one are very difficult to manage.

Things have never been more complex.

Call a proven expert for the best advice.

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Filed Under: Real Estate Perspective

The News – and the Reality: Trends Affecting Real Estate

November 21, 2018

One of the most popular activities in the daily news cycle seems to be forecasting the future of real estate. And it’s not uncommon to see wildly opposing views on where the market is headed, and when it might get there. This month’s post explores the news — and the reality.

Read More

The Changing Market – What Does That Really Mean?

October 22, 2018

After several years where home sellers had a market advantage, now buyers have more selection, more time to make good decisions, and their dollar buys more house than it used to.

Read More

Great Opportunities for Trading Up or Down…If You Qualify

October 9, 2018

Talk to a mortgage broker if you plan to move. There is still a strong demand for housing especially in retirement and recreational properties.

Read More

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Shannon Realty

Suite 207 5740 Cambie St.,
Vancouver, BC. V5Z 3A6
1-604-649-6058

Email: jeff@shannonrealty.ca

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